The lingering effects of the pandemic coupled with a struggling economy have caused the hotel industry to experience significant losses — $111.8 billion in revenue from room sales during the period ranging from 2020 to 2021. While business travel is predicted to remain down for most of this year, leisure travelers will pick up some of the slack, helping to nudge the industry toward recovery.
As the print industry struggles to recover from the perfect storm of disruption from the pandemic and a shaky economy, print businesses looking to thrive in 2023 will be using innovation to strengthen their market position.
Everyone in the construction pipeline — from owners and developers to contractors, subcontractors, and vendors in the deep construction supply chain — have been impacted by the ongoing coronavirus pandemic. In response, members of the industry are turning to address both short- and long-term business challenges.
With much uncertainty in the world right now, the travel industry has to be creative to attract customers.
While many areas of the hospitality industry saw reduced revenues as the coronavirus pandemic continued to wreak disruption, one segment of the industry learned how to thrive. The segment? Country clubs. The secret to their success? Innovation.
Architects and their staff have always relied on tools to create projects and plans that illustrate good design and help their clients live, work, and play in better, more cohesive environments. But the industry has come a long way since the advent of the drafting table, compass, and mechanical pencil. Today’s busy architectural firms rely on a host of forward-looking tools and technologies that increase design capabilities and make daily tasks easier and more frustration-free.
Like many industries, the automotive repair business has seen a definitive slump in the wake of the coronavirus pandemic. During the year-long lockdowns, driving was down, leading to a reduction in the need for repairs and a slump in routine maintenance work as well. In some areas, a decline in estimates and repairs reached at least 50% — and potentially even higher.
The coronavirus pandemic has taken a bite out of the American economy. Over 800,000 U.S. businesses permanently closed during the first year of the virus, a 200,000 increase over previous years. Moving forward, many companies still struggle to stay afloat in the ever-changing environment of post-pandemic uncertainty. And, with more businesses cutting budgets, marketing firms are seeking to stand out from the crowd to continue to earn business from the survivors.
With over $900 billion in revenue generated every year, the commercial printing business is a lucrative industry. Technology is leading the way to increased profit margins, helping commercial printers expand revenues by 20% over the last five years. Added to that is the growing popularity of digital printing, which is increasing by 10% annually.
Landscape and Building Architects know the cost of paper and ink. They regularly produce wide-format designs, layouts, and plans for review and approval. Once approvals are in place, they move to the construction phase, during which they record and process design change requests.