Hospitality industry: behavioral economics and psychology of communication in Covid-19 era

Abstract

The purpose of this study is the identification of different aspects of the further development of Hospitality Industry in the context of new economical, psychological and social conditions. It has been found, that the real situation in the world is much worse than official statistics available from national governments. All possible impact on the global economic environment will be much more sophisticated than only simple short-term reducing economic activity. Media are sending a strong message for potential clients and investors of the Hospitality Industry, and label it as “The danger’s territory”. Extrapolation and systematization of risk factors have been performed from different sources. It has been concluded that the industry should begin developing communicative strategy and informational company based on the behavioral psychology of pandemics with unification and standardization of all business processes for reducing risk factors.