#PayitForward to the Travel Industry: a Call to Action for Business Leaders

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There is no blueprint for what we are living through right now. Sitting here in lockdown, in an attempt to flatten the curve, I am experiencing these effects firsthand.With heavy travel restrictions already in place across Europe, the travel industry is clearly one of the most severely impacted by the Covid-19 pandemic. It’s also one of the most important industries in our global economy, supporting millions of people around the world.

And although it’s easy to complain when a flight is delayed, or when a booking is messed up, travel is something all companies do and are being impacted by.Some governments are providing support to the hardest-hit industries. But this effort – while noteworthy – likely won’t be enough. Jobs are being lost and companies are suffering, (not to mention the personal losses).

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Open call to the Business Community: #Payitforward

The business community has an opportunity to influence and mitigate some of these negative effects. Companies that are financially robust and relatively unaffected by this crisis can play a key role in promoting economic recovery. But this will require business leaders to take action. During the pandemic, I firmly believe that the business community needs to come together and show solidarity by supporting its key providers. It’s a thought echoed by other leaders.

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The #Payitforward Travel Industry Initiative

As a company, we are used to facing and solving FX challenges. To help in solving the economic challenge of Covid-19, Kantox is calling on companies to launch a global #PayitForward Travel Industry initiative by making a financial commitment to their trusted providers. To help restore business confidence, ease supply chain disruption, and boost cash flows, we are pre-paying part of our 2020 travel budget to our trusted providers.

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Keep reading this article on Philippe Gelis’ LinkedIn