Tuan Anh, of Moto Tours Asia agrees, stating that
around 70% of their current tours in Vietnam had been
put off with numerous riders cancelling before an official
announcement had been made.
“They cancelled to claim their insurance,” Anh explained.
“Some can’t afford to continue with the tour.
“Around 88% of our market is from Australia, Europe,
and USA,” he continued. “We have had 16 tours in Vietnam
100% cancelled, from February until August 2020.”
Anh explained that the busy season in Vietnam is
between September and April, they are yet to see any
bookings for that period.
The economic outlook is for a recession that is deeper
than anything previously seen, deeper than the Great
Depression, yet it doesn’t mean doom, in fact how we
behave now and in the short term could determine how
we come out, and perhaps sooner than we think.
At a micro level, businesses have taken varying approaches
to remaining solvent and ensuring some level
of normality for future business and tours. Those with
liquidity are said to be the best positioned by having cash
at hand however, cutting operating costs became a priority
for many. Across the globe many travel businesses
have been criticised for not refunding in full, it’s not as
simple as that. Refunds build good will, yet often that
money is needed to remain solvent and ride the storm.
TRAVERSE