♪ THEME MUSIC ♪ >>GOOD MORNING, AND WELCOME TO GLOBAL PERSPECTIVES.

FROM OUR HOME STUDIOS, I'M DAVID DUMKE.

>>AND I'M KATIE CORONADO.

WELCOME.

TODAY, WE HAVE THE PLEASURE OF HAVING WITH US CHAIR PROFESSOR AND DEAN OF ROSEN COLLEGE OF HOSPITALITY MANAGEMENT AT UCF, DR. YOUCHENG WANG.

WELCOME.

>>THANK YOU VERY MUCH DAVID AND KATIE FOR HAVING ME.

>>DEAN WONG, LAST TIME WE HAD YOU ON ON THE SHOW WAS MARCH 2020 RIGHT BEFORE THE US WAS HIT BY THE COVID-19.

OBVIOUSLY A LOT HAS CHANGED IN THE TOURISM INDUSTRY.

WHERE ARE WE RIGHT NOW?

HOW ARE THINGS GOING?

>>THANK YOU VERY MUCH, DAVID.

YEAH, IT'S ALWAYS INTERESTING TO REMIND US OF THE PREVIOUS INTERVIEW WE DID RIGHT BEFORE THE COVID-19.

AND OF COURSE, AT THAT TIME, THERE WERE SOME SIGNS OF THE COVID-19 DEVELOPMENT, BUT PROBABLY NOBODY EXPECTED THAT THIS WILL HAVE SUCH A GREAT IMPACT ON EVERYBODY'S LIFE, ESPECIALLY IN THE INDUSTRY IN PARTICULAR, OUR HOSPITALITY AND TOURISM INDUSTRY, WHICH HAS REALLY BEEN AFFECTED VERY MUCH NO MATTER WHAT SECTORS OF INDUSTRY YOU ARE LOOKING AT, THE HOTEL INDUSTRY, THE RESTAURANT INDUSTRY IN PARTICULAR, TRAVEL AND TOURISM INDUSTRY.

SO WE ARE STILL COPING WITH THE IMPACT.

I THINK, OF COURSE, 2020, BASICALLY THE INDUSTRY WAS PRETTY MUCH DECIMATED.

SO MANY JOBS HAVE BEEN LOST.

THE REVENUES HAVE BEEN GOING DOWN.

SO IF YOU LOOK AT THE NATIONAL LEVEL, SOME OF THE NATIONAL LEVEL STATISTICS, TRAVEL AND TOURISM INDUSTRY IS A BUSINESS CLOSE TO $10 TRILLION.

SO THE LOST REVENUE REPRESENTED BY 2020, IT'S ABOUT 50% DROP COMPARED WITH PREVIOUS YEAR, WHICH WAS 2019.

SO IT CAME DOWN TO $4.5 TRILLION.

AND ALSO FROM LABOR FORCE PERSPECTIVE, IN THE US, HOSPITAL AND TOURISM COMBINED, WE HAVE ABOUT UP TO $15 MILLION WORKFORCE.

AND AT THE BEGINNING OF THE COVID-19, STARTING FROM MARCH ALL THE WAY TO THE SUMMER, WE LOST MAJORITY OF THE JOBS.

SO THAT IS HOW DEVASTATED IT WAS.

I THINK WE ARE SEEING SOME TRENDS OF RECOVERY, BUT RECOVERY PROBABLY IS GOING TO BE A LONG-TERM SHOT.

IT IS A LITTLE BIT DIFFERENT FROM MANY PEOPLE PREDICTED.

BUT I WOULD SAY THAT RECOVERY PROBABLY, WE NEED TO LOOK AT THE RECOVERY FROM TWO DIFFERENT MARKETS.

AND ONE OF COURSE, IS THE DOMESTIC MARKET.

AND I WOULD SAY THAT DOMESTIC MARKET RECOVERY IS ACTUALLY BETTER THAN WHAT WE EXPECTED.

SO IF YOU LOOK AT THE MAJOR METROPOLITAN CITIES, MAJOR TOURISM DESTINATIONS AS FAR AS HOTEL, THE OCCUPANCY RATE.

SO WE ARE COMING CLOSER TO THE NORMAL LEVEL IN BEFORE 2020 AND 2019.

BUT IN TERMS OF THE INTERNATIONAL TRAVEL, WE ARE STILL FAR AWAY FROM RECOVERY.

I THINK IT'S GOING TO TAKE US PROBABLY ANOTHER TWO TO THREE YEARS BEFORE WE CAN SEE ANY TYPES OF NORMALCY ON THE INTERNATIONAL FRONT.

THE OTHER ASPECT ACTUALLY IS RELATED TO THE BUSINESS TRAVEL BECAUSE IF YOU TALK ABOUT RECOVERY FOR THE HOSPITAL AND TOURISM INDUSTRY IN GENERAL, AND THEN YOU HAVE TO INCLUDE THE BUSINESS ASPECT OF THE INDUSTRY.

SO UNTIL WE BRING BUSINESS TRAVEL AND INTERNATIONAL TRAVEL BACK TO CERTAIN LEVEL OF NORMALCY, WE WILL NOT BE ABLE TO HAVE A COMPLETE RECOVERY BECAUSE BUSINESS TRAVEL, INTERNATIONAL TRAVEL, EVEN THOUGH IN TERMS OF NUMBER OF VISITORS OR PEOPLE INVOLVED WERE NOT AS BIG AS THE LEADER TRAVEL MARKET, BUT IN TERMS OF ECONOMIC IMPACT, IT IS VERY, VERY SIGNIFICANT PORTION OF THE TOTAL TRAVEL AND HOSPITALITY CONTRIBUTION TO THE ECONOMIC DEVELOPMENT.

>>DEAN WONG, YOU WERE UP SOME VERY GOOD POINTS.

WHEN YOU TALK ABOUT THE IMPORTANCE OF BUSINESS TRAVEL, HOW DO YOU EXPLAIN THAT TO AN AUDIENCE THAT PERHAPS WOULD LOOK AT THIS FROM A LEISURE PERSPECTIVE?

HOW IS THE BUSINESS TRAVEL DIRECTLY IMPACTING THE INDUSTRY?

>>THANK YOU, KATIE.

THAT IS A VERY GOOD QUESTION, BUT ALSO IT'S A VERY CHALLENGING QUESTION.

SO I'M NOT SURE WHETHER ANYBODY HAS A VERY EASY ANSWER OR SOLUTION TO THAT QUESTION.

SO I THINK, AND IF YOU LOOK AT THE TREND, SOME OF THE THINGS WILL STAY.

SO FOR EXAMPLE, THE TECHNOLOGY ASPECT WILL STAY SUPPORTED BY THAT OR FACILITATED BY THAT, THE VIDEO CONFERENCING AND SOME OTHER REMOTE TECHNOLOGIES SUPPORTING BUSINESS MEETINGS AND SO FORTH.

SO I THINK THAT WILL BE OVER THERE.

SO WHAT DOES IT MEAN?

THAT MEANS THAT PROBABLY THERE WILL BE SOME REDUCTIONS OF THE BUSINESS MEETINGS AS PART OF THE NECESSITY FORMULA.

BUT I THINK FOR MANY MEETINGS, ESPECIALLY IN OUR INDUSTRY, THERE'S STILL A GREAT DEMAND AND A NEED FOR PEOPLE TO MEET FACE-TO-FACE AND TALK TO FACE-TO-FACE BECAUSE SOME ASPECT, THE PHYSICAL ASPECT, THAT WILL BE VERY, VERY DIFFICULT TO REPLACE, EVEN THOUGH THE MOST CUTTING EDGE, MOST IMMERSIVE TYPE OF TECHNOLOGY, BUT TO HAVE A FACE-TO-FACE CONVERSATION INTERACTION WITH PEOPLE IT'S A LITTLE BIT DIFFERENT.

BUT I THINK LONG-TERM, IF YOU THINK ABOUT THE BUSINESS TRAVEL ASPECT, INCLUDING MEETINGS AND CONVENTIONS, WE HAVE TO BE PREPARED FOR REALLY A HYBRID MODE, WHICH MEANS THAT MAYBE SOME OF THE MEETINGS, DEPENDING ON THE PURPOSE OF THE MEETING, AGAIN, IF IT IS JUST FOR INFORMATION SHARING AND LEARNING, MAYBE THAT CAN BE CONDUCTED BY TAKING ADVANTAGE OF THE TECHNOLOGY CAPABILITIES.

BUT IT IS FOR CLIENT DEVELOPMENT, EXHIBITIONS AND SOME OTHER CONVENTIONS, YOU WILL NEED TO GATHER LARGE GROUPS OF PEOPLE TO WORK ON OVERARCHING GOAL.

AND I THINK THAT WILL CREATE AND NECESSITY FOR PEOPLE STILL TO TRAVEL FOR BUSINESS PURPOSES.

SO I THINK WE STILL NEED TO THINK ABOUT HOW WE REDESIGN THE BUSINESS TRAVEL SPHERE AND HOW WE ARE GOING TO SEND THE MESSAGE TO THE STAKEHOLDERS INVOLVED.

THAT IS THAT FROM MANY MEETINGS, IT IS STILL VERY NECESSARY IMPORTANT FOR PEOPLE TO MEET.

THE OTHER TREND I CAN SEE IS THAT THERE WILL BE SOME COMBINATIONS OF THE PURPOSES OF THE BUSINESS TRAVEL.

SO WE USED TO TRAVEL FOR BUSINESS PURPOSES AND FOR BUSINESS PURPOSES ONLY, BUT I THINK IN THE FUTURE WHAT WE NEED TO DO IS TO TRY TO MAKE THE BUSINESS TRAVEL A LITTLE BIT MORE ATTRACTIVE AND INTEGRATIVE IN A WAY THAT YOU COMBINE BUSINESS WITH LEISURE TOGETHER.

AND AS A MATTER OF FACT, WE COINED A NEW TERM, WHICH IS CALLED LEISURE, WHICH STANDS FOR BUSINESS PLUS LEISURE.

OKAY?

SO IF YOU COMBINE THOSE TWO IN A VERY MEANINGFUL WAY, NOT ONLY FROM THE BUSINESS PERSPECTIVE, BUT ALSO FROM A PERSONAL RECREATIONAL PERSPECTIVE, I THINK PEOPLE WILL BE MORE ENCOURAGED TO GO TO BUSINESS MEETINGS AND BEING PART OF THE PHYSICAL INTERACTION ASPECT.

>>THERE'S SO MANY QUESTIONS WE WANT TO ASK ABOUT THIS SECTOR AND OBVIOUSLY THE IMPACT OF COVID ON IT, BUT NOT ALL THE IMPACT HAS BEEN EQUAL OBVIOUSLY ACROSS THE SECTOR AND WITHIN DIFFERENT COUNTRIES.

WHAT AREAS HAVE BEEN HURT THE WORST GEOGRAPHICALLY IN TERMS OF GLOBAL TOURISM?

>>YEAH, I THINK FROM A GLOBAL PERSPECTIVE AS I JUST MENTIONED, IN ORDER TO SEE THE RECOVERY OR COMPLETE RECOVERY OF THE GLOBAL TOURISM, I THINK WILL TAKE SOME MORE TIME.

SO I THINK WE HAVE TO BE PATIENT ON THAT.

IT'S GOING TO TAKE AT LEAST ANOTHER TWO TO THREE YEARS BEFORE WE SEE A COMPLETE REBOUND OF THE TRAVEL AND TOURISM INDUSTRY AT A GLOBAL LEVEL.

BUT I THINK THERE ARE SOME OF THE THINGS WE CAN DO TO, IF NOT EXPEDITE, BUT FACILITATE THE MOBILITY MOVEMENT ACROSS THE BORDERS.

SO JUST GIVE YOU SOME EXAMPLES.

WE HAVE TO HAVE SOME UNIFIED POLICY STIPULATED OR FORMULATED TO SUPPORT INTERNATIONAL TRAVEL.

WE HAVE TO HAVE UNIFIED POLICY TO RECOGNIZE THE VACCINES PRODUCED BY DIFFERENT MANUFACTURERS IN DIFFERENT COUNTRIES, SO LONG AS THEY ARE RECOGNIZED BY WHO, WORLD HEALTH ORGANIZATION.

AND THEN WE SHOULD MUTUALLY RECOGNIZE THAT WILL FACILITATE, FOR EXAMPLE, THE MOBILITY ACROSS BORDERS IN TERMS OF VOLUME.

AND THE OTHER ONE IS THAT WE HAVE TO COME UP WITH POLICIES IN TERMS OF HOW WE PROCESS THOSE VISITORS.

IT HAS TO BE EFFICIENT AND EASY TO GO THROUGH PROCESS IF THE PROCESS IS COMPLICATED.

EVERY COUNTRY HAS THEIR OWN RULES AND REGULATIONS.

THAT WILL BE SOME KIND OF INTIMIDATION IN THE MINDS OF THE POTENTIAL TRAVELERS GOING TO OTHER PLACES.

SO I THINK THERE WILL BE A LOT OF THINGS WE HAVE TO DO IN ORDER TO MAKE SURE THAT WE HAVE THAT INTERNATIONAL LEVEL OF POLICY AND PROCESS, PROCEDURES, ISSUES SET UP IN ORDER TO REALLY FACILITATE A CROSS-BORDER TRAVEL.

ANOTHER EXAMPLE MIGHT BE THAT PROBABLY IN THE FUTURE, EVERYBODY TRAVELING INTERNATIONALLY, WE WILL HAVE TO HAVE TWO PASSPORTS.

AND ONE IS YOUR NORMAL TYPE OF PASSPORT, HAVE YOUR IDENTITY, YOUR INFORMATION.

THE OTHER ONE WOULD BE YOUR HOUSE PASSPORT WHICH CAN REFLECT YOUR VACCINATION STATUS, WHETHER YOU HAVE THE IMMUNE SYSTEM IN YOUR BODY.

SO IN THE VERY END ANALYSIS, I THINK WE CANNOT JUST AFFORD TO HAVE ONE POLICY WHICH CAN FIT ALL.

SO WE HAVE TO TREAT PEOPLE DIFFERENTLY.

SO IT IS NOT ABOUT THE GEOGRAPHICAL REASONS.

IT'S ABOUT THAT PERSON.

WHAT IS THE CHARACTER OF THAT PERSON IN TERMS OF THE HOUSE STATUS OF THAT PERSON?

SO IF THAT PERSON IS VACCINATED IS CONSIDERED TO BE SAFE, TO TRAVEL INTERNATIONALLY.

SO NO MATTER WHERE THAT PERSON COMES FROM, AND THAT PERSON SHOULD BE TREATED THAT WAY RIGHT RATHER THAN TO REALLY IMPOSE UNIVERSAL POLICY IN RELATION TO A PARTICULAR REGION OR PARTICULAR COUNTRY.

SO I THINK WE NEED TO WHOLE BUNCH OF THINGS TO REALLY THINK ABOUT IT THROUGH AT THE GLOBAL LEVEL, INTERNATIONAL LEVEL AND COME UP WITH SOME UNIFIED POLICIES SO THAT WE CAN BRING MORE OF THE INTERNATIONAL BUSINESSES BACK TO NORMAL.

>>THANK YOU FOR THAT, DEAN.

I WANTED TO TALK MORE ABOUT THOSE HEALTH PASSPORTS THAT YOU ENVISION AND MAYBE QUICKLY EXPLAIN HOW YOU THINK SOMETHING LIKE THAT WOULD BE ABLE TO TAKE PLACE IN A JUSTIFIED WAY.

>>WELL, SOME OF THESE TYPE OF POLICIES WILL COME OUT OF NECESSITY.

SO JUST GIVE YOU ONE EXAMPLE, ON NOVEMBER THE EIGHTH, OUR COUNTRY, US, DECIDED TO OPEN OUR BORDER TO INTERNATIONAL TRAVELERS.

AND THEN IN ORDER TO DO THAT, OF COURSE, WE HAVE TO HAVE CERTAIN POLICIES SET UP AND THEY ENFORCE THAT.

AND THAT POLICY IS THAT ALL THE INTERNATIONAL TRAVELERS COME INTO THE UNITED STATES OF AMERICA, THEY HAVE TO BE VACCINATED SO THAT THEY ARE CONSIDERED TO BE SAFE TRAVELERS.

SO THAT IS JUST ONE EXAMPLE.

AND I THINK THIS MODEL CAN BE REPLICATED TO OTHER REGIONS AND OTHER COUNTRIES.

SO IN TERMS OF THE PASSPORT, SO THAT IS THE BASIC INFORMATION YOU WILL NEED.

I WAS REFERRING TO THE HOUSE PASSPORT.

SO ON THAT PIECE OF PAPER OR BEAUTIFULLY MADE PASSPORT, YOU WILL HAVE YOUR HOUSE-RELATED INFORMATION, ESPECIALLY IN RELATION TO THE VACCINATION STATUS.

SO BY HAVING THAT INFORMATION, THAT PIECE OF INFORMATION, OF COURSE, YOU CAN MAKE A DECISION OR WE CAN MAKE A DECISION WHETHER SOMEBODY IS SAFE TO TRAVEL.

SO THAT CAN BE JUST ONE EXAMPLE IN TERMS OF POLICY, WHICH CAN BE EXPANDED AND IMPLEMENTED IN OTHER COUNTRIES.

BUT I THINK WE WILL NEED TO HAVE CERTAIN LEVEL OF COORDINATION AT THE INTERNATIONAL LEVEL.

OKAY?

SO THAT HAS TO BE SOME INTERNATIONAL LEVEL AGENCIES, FOR EXAMPLE, WHO, WORLD HEALTH ORGANIZATION, AND UNWTO, UNITED NATIONS WORLD TRAVEL ORGANIZATION.

SO THESE ARE THE AGENCIES WHO HAVE THE MANDATE TO COME UP WITH POLICIES AND INTRODUCE THE POLICIES TO DIFFERENT COUNTRIES AND REGIONS IN ORDER TO FACILITATE INTERNATIONAL TRAVEL.

>>YOU MENTIONED THE IMPORTANCE OF INTERNATIONAL COORDINATION AND GUARANTEEING SAFETY AND ULTIMATELY MAKING THE TRAVEL PROCESS PREDICTABLE SO POTENTIAL CONSUMERS ARE COMFORTABLE WITH THINGS.

WHAT ARE THE SHORTCOMINGS YOU'VE SEEN DURING THIS PANDEMIC?

WE SEEM TO BE MAKING PROGRESS AND THERE'S A NEW STRAND OF COVID THAT COMES OUT AND YOU SEE NEW TRAVEL RESTRICTIONS.

AND IT SEEMS TO HAVE CREATED A LOT OF CONFUSION AMONG POTENTIAL TRAVELERS.

>>YEAH, I THINK THIS IS JUST A NATURAL PART OF THE PROCESS OR NATURAL PART OF THE BUSINESS PROCESS.

I THINK YOU WILL CONTINUE TO SEE UPS AND DOWNS IN TERMS OF HOW PEOPLE RESPOND TO THIS TYPE OF CRISIS, ESPECIALLY EVERY TIME WHEN YOU HAVE A NEW VARIANT.

SO RIGHT NOW WHAT WE ARE DEALING WITH IS THE OMICRON VARIANT.

SO THAT IS EXACTLY THE POINT I JUST MADE THAT IS RELATED TO THE IMPORTANCE AND NECESSITY OF INTERNATIONAL COLLABORATION AND INTERNATIONAL COORDINATION.

BECAUSE IF YOU DON'T HAVE THE INTERNATIONAL COLLABORATION AND COORDINATION.

EACH OF THE COUNTRIES TEND TO RESPOND IN THEIR OWN WAY BASED ON WHATEVER CONCERNS THEY MIGHT HAVE.

MAYBE SOME OF IT IS RELATED TO THE CULTURAL ASPECT OF THE PARTICULAR REGION OR PARTICULAR COUNTRY.

SO THEY TEND TO COME UP WITH DIFFERENT POLICIES AND PRACTICES.

>>SO AS YOU CAN SEE THAT US RIGHT NOW STILL, OUR BORDER IS STILL OPEN TO INTERNATIONAL TRAVELERS SO LONG AS YOU ARE VACCINATED.

AND A FEW DAYS AGO WE INTRODUCED ANOTHER ADDITIONAL POLICY THAT IS THAT YOU HAVE TO HAVE THE TEST INDICATING THAT YOU HAVE TESTED NEGATIVE I THINK TWO DAYS BEFORE YOUR TRAVEL.

SO THESE POLICIES OR NEW POLICIES GRADUALLY INTRODUCED TO DEAL WITH THE ASSOCIATION, WITH THE INCREASED UNDERSTANDING OF THE CHALLENGES WE ARE FACING, I THINK THAT IS OKAY.

>>BUT I THINK WHAT IS MORE IMPORTANT IS THAT YOU IF YOU LOOK AT OTHER COUNTRIES RESPONSES, EUROPEAN COUNTRIES, EU, THEY RESPONDED TO THIS COMPLETELY DIFFERENTLY ONCE THEY IDENTIFIED OR THEY HEARD ABOUT THE NEW VARIANT AND HOW WIDESPREAD IT CAN BE OR CONTAGIOUS IT CAN BE.

AT THAT TIME, OF COURSE, WE DID NOT HAVE A LOT OF SCIENTIFIC EVIDENCE IN TERMS OF SEVERITY OF THIS NEW VARIANT.

AND THEY PANIC.

AND AS A RESULT OF THAT, MANY COUNTRIES ACTUALLY CLOSE THEIR BORDER COMPLETELY.

SOME OF THE ASIAN COUNTRIES, JAPAN DID THE SAME THING.

SO WE CAN SEE THE VARIANTS IN TERMS OF THE CONSISTENCY OF THE POLICY.

SO THAT I THINK WILL DICTATE OR CALL FOR THE NECESSITY OF INTERNATIONAL COLLABORATION AND INTERNATIONAL COORDINATION BECAUSE WE JUST CANNOT RESPOND TO THESE TYPE OF THINGS DIFFERENTLY WITH DIFFERENCES IF WE WANT TO FACILITATE OR PROMOTE THE INTERNATIONAL TRAVEL.

>>THAT'S A VERY GOOD POINT.

I THINK THE NECESSITY FOR UNIFICATION WILL DEFINITELY CONTINUE TO BE OBVIOUS.

AN EXAMPLE THAT YOU BRING UP IS, MEXICO HAS DEFINITELY INCREASED THE PROMOTION OF TRAVEL, AND WITH A LOT OF THE POSTS ON SOCIAL MEDIA I'M SURE THAT YOU'VE SEEN, AND A LOT OF EVEN PHONE CALLS, JUST RANDOM PHONE CALLS, ADVERTISING, ALL INCLUSIVE AND A LOT OF RESORT OPPORTUNITIES THERE.

WHAT DO YOU THINK IS GOING TO HAPPEN WITH OTHER COUNTRIES AND EVEN WITH OUR OWN IN TERMS OF INCENTIVE TO TRAVEL?

>>WELL, AGAIN, THAT'S IS, I DON'T THINK WE HAVE ONE SET OF ANSWER TO THAT QUESTION BECAUSE OF THESE VARIANTS IS INTRODUCED BY DIFFERENT COUNTRIES IN TERMS OF HOW TO RESPOND TO A CRISIS IN GENERAL AND A PARTICULAR VIRUS IN PARTICULAR.

SO I THINK WE HAVE TO RELY ON THE EVIDENCE PROVIDED BY SCIENCE AND BY THE SCIENTISTS.

JUST GIVE YOU ONE EXAMPLE.

WHEN THE PREVIOUS VERSION OF VARIANT, THAT WAS A DELTA OUTBROKE, AND PEOPLE WERE VERY, VERY NERVOUS.

SO AT ONE POINT AT A TIME, WE THOUGHT, "WOW, GEEZ, THIS WILL BE THE END OF THE WORLD."

BUT IT TURNED OUT TO BE OKAY.

TURNED OUT TO BE OKAY.

AND OF COURSE, WITH THE DEVELOPMENT OF VACCINES WHICH CAN REALLY FIGHT AGAINST THAT.

AND THEN A FEW WEEKS AGO, THIS VARIANT OMICRON, AND IT IS MUCH MORE CONTAGIOUS THAN THE PREVIOUS VERSIONS.

AND PEOPLE WERE VERY, VERY CONCERNED ABOUT THAT FOR OBVIOUS REASONS.

BUT THE RECENT SCIENTIFIC EVIDENCE SUGGESTS IS THAT, YES, IT CAN BE VERY, VERY CONTAGIOUS AND WIDESPREAD, BUT THE IMPACT ACTUALLY IS LIMITED IN TERMS OF THE SEVERITY.

SO THIS MORNING ACTUALLY THERE WAS BREAKING NEWS COMING OUT OF PFIZER WHICH INDICATES THAT THE TWO DOSES CAN ACTUALLY PROTECT YOU FROM GETTING VERY ILL AND VERY SICK.

AND THEN THE BOOSTER DOSE, IF YOU HAVE THREE, INCLUDING A BOOSTER DOSE CAN ACTUALLY PREVENT YOU FROM BECOMING VERY ILL, EVEN WITH THE NEW VARIANT.

OKAY?

SO I THINK THIS WILL BE A DYNAMIC SITUATION.

SO YES, WE HAVE TO, UNFORTUNATELY, THIS WILL NOT BE GOING AWAY.

SO THIS WILL STAY WITH US.

THE VIRUS WILL STAY WITH US FOR A LONGER PERIOD OF TIME AND WE HAVE TO BE PREPARED FOR A LONGER PERIOD OF TIME.

AND OUR INDUSTRY IN PARTICULAR, WE HAVE TO BE PREPARED THAT WAY.

BUT I THINK THERE WILL BE SCIENTIFIC DEVELOPMENT WHICH CAN BE UTILIZED TO REALLY... EVERYBODY, INCLUDING LEISURE TRAVELERS AND BUSINESS TRAVELERS TO GET REALLY BACK TO OUR NORMAL LIFE BECAUSE LIKE IT OR NOT, WE HAVE TO REALLY TREAT IT AS A NORMAL LIFE, EVEN THOUGH MANY PEOPLE ARGUE I AGREE WITH THAT.

THAT IS THAT WE ARE NOT GOING BACK TO THE NORMAL-NORMAL LIKE WHAT WE DID BEFORE.

BUT WE ARE GOING TO BACK TO THE NEW NORMAL, AND WE HAVE TO DEAL WITH SOME OF THE NEW PHENOMENA, NEW CHALLENGES, BUT WE HAVE TO GET OUR LIFE BACK AND GET OUR BUSINESS BACK.

SO I THINK THAT IS HOW I REALLY VIEW THAT ASPECT.

>>YOU'RE MENTIONING THE NEW NORMAL, AND WE'RE TALKING ABOUT THAT IN A LOT OF DIFFERENT ASPECTS OF LIFE.

HAVE THERE BEEN SOME POSITIVE DEVELOPMENTS, EVEN THROUGH THIS DIFFICULT TIME THAT YOU SEE AS WE GET INTO THIS NEW NORMAL?

HOW WE CAN APPLY SOME OF THE LESSONS THAT HAVE BEEN LEARNED TO THE HOSPITALITY INDUSTRY TO ACTUALLY MAKE THINGS BETTER AS WE ADJUST TO THE NEW NORMAL?

>>YEAH, I THINK THERE ARE A FEW TRENDS WHICH ARE RELATED TO THAT.

AS I MENTIONED THAT, YES, WE CANNOT GO BACK TO THE OLD NORMAL ON THE NORMAL-NORMAL, BUT WE HAVE TO ADJUST TO THE NEW NORMAL.

AND WHAT IS ASSOCIATED WITH NEW NORMAL, I THINK THAT'LL BE REFLECTED BY A FEW TRENDS AND A FEW CHANGES.

I THINK NUMBER ONE, WHICH IS VERY, VERY EVIDENT, THE TECHNOLOGY WILL BE OVER THERE.

OKAY?

THE TECHNOLOGY WILL BECOME A MUCH MORE IMPORTANT ASPECT OF OUR DAILY LIFE AND OUR BUSINESS LIFE.

OKAY?

SO JUST LIKE WHAT WE ARE DOING RIGHT NOW, AND THIS WAS REALLY MADE POSSIBLE BY GREAT TECHNOLOGIES WE HAVE.

SO I THINK THAT WILL CONTINUE.

BUT I THINK AT THE SAME TIME, EVERY ASPECT OF THE BUSINESS HAS PROS AND CONS.

SO TECHNOLOGY CAN BRING YOU A LOT OF CONVENIENCE AND CHOICES.

BUT AT THE SAME TIME, WE ARE ALSO PAYING A PRICE IN TERMS OF THE MENTAL HEALTH OF PEOPLE IN GENERAL AND HEALTH OF EMPLOYEES IN A BUSINESS ENVIRONMENT.

SO PEOPLE ARE FEELING FOR EXAMPLE, ISOLATED.

SO JUST IMAGINE, FOR EXAMPLE, YOU'RE STAYING AT HOME FOR TWO MONTHS AND WORKING AT HOME.

SO I DON'T THINK THAT MANY PEOPLE FEEL THAT THEY FEEL COMFORTABLE WITH THAT.

SO AS A BUSINESS, OF COURSE, AS LEADERS IN INVOLVING DIFFERENT KINDS OF BUSINESSES, WE HAVE TO TAKE THAT INTO CONSIDERATION IN A WAY THAT IF TECHNOLOGY'S OVER THERE, PEOPLE ARE GOING TO USE TECHNOLOGY AND THEN REMOTE WORK WILL BE STAYING OVER THERE.

HOW WE ARE GOING TO REALLY MEASURE PERFORMANCE.

ARE YOU MARRYING A PERFORMANCE JUST BASED ON THE PRODUCTIVITY?

AND IF THE JOB IS DONE AND THEN CONGRATULATIONS.

THAT IS THE END RESULT.

BUT I THINK IN A NEW NORMAL, IT HAS TO BE MORE THAN THAT.

IT HAS TO BE SOMETHING RELATED TO THE MENTAL HEALTH, THE WELLBEING OF THE EMPLOYEES, ESPECIALLY IN OUR INDUSTRY BECAUSE WHEN PEOPLE GET ISOLATED AND THEN THEY CAN BECOME VERY, VERY STRESSED OUT.

OKAY?

SO THAT'S A VERY, VERY IMPORTANT COMPONENT OF THAT.

>>THE OTHER THING IS THAT WE CANNOT REALLY TREAT EVERYBODY EXACTLY THE SAME.

AGAIN, TAKE AN EXAMPLE IN OUR INDUSTRY, WE HAVE DIFFERENT POSITIONS OBVIOUSLY, AND SOME OF THEM ARE BACK OF THE OFFICE.

OKAY?

SO MAYBE THOSE POSITIONS, THOSE TASKS CAN BE CONDUCTED FOR THE MOST PART ONLINE BY WORKING REMOTE.

BUT IN THE HOSPITALITY INDUSTRY, THE MOST IMPORTANT COMPONENT IS REALLY THE GUEST INTERACTIONS IN ORDER TO PROVIDE THE BEST EXPERIENCES AND VALUE TO THE GUEST.

SO THOSE GUESTS FACING FRONTLINE EMPLOYEES, OF COURSE, WE CANNOT AFFORD THEM TO WORK ENTIRELY REMOTE.

BUT GIVEN PEOPLE'S EXPECTATIONS, I THINK WE WILL NEED TO TAKE THAT INTO CONSIDERATION.

THAT IS THAT HOW CAN YOU CREATE A HYBRID MODEL SO THAT YOU CAN SUPPORT FLEXIBILITY, ACCOMMODATE PEOPLE'S PERSONAL NEEDS, BUT AT THE SAME TIME, TO CREATE THE SENSE OF COMMUNITY, SO CALLED?

BECAUSE BOTH ASPECTS IS VERY, VERY IMPORTANT AS I MENTIONED BEFORE.

SO I THINK THE PERFORMANCE OF OUR ORGANIZATION WILL BE MEASURED BY THOSE TWO ASPECTS.

ONE IS THE PRODUCTIVITY.

CAN YOU STILL GET YOUR JOB DONE?

THE OTHER ONE IS THAT, HOW DO YOUR PEOPLE FEEL ABOUT IT?

DO THEY FEEL STILL THE SENSE OF COMMUNITY AS A VERY, VERY IMPORTANT AND INTEGRAL PART OF AN ORGANIZATION?

SO JUST BY FOCUSING ON ONE, LET'S SAY PRODUCTIVITY AND EVERYBODY CAN WORK IN OFFICE AND THEN CONGRATULATIONS, I THINK THAT WILL NOT BE A SUSTAINABLE MODEL LOOKING INTO THE FUTURE.

BUT FOR SOME POSITIONS, YES, IT HAS THE POSSIBILITY.

>>WELL, DR. WONG, WE REALLY APPRECIATE YOU JOINING US TODAY.

JUST VERY BRIEFLY BEFORE WE END, HAS THE INDUSTRY BEEN MORE OR LESS RESILIENT THAN YOU THOUGHT IT WOULD BE?

>>I THINK IT IS MORE, IT IS MORE BECAUSE AND IF YOU THINK ABOUT REALLY THE SITUATION AT THE BEGINNING OF SUMMER OF 2020, IT WAS VERY BAD.

AND OF COURSE, TO A CERTAIN LEVEL, MANY INDUSTRY LEADERS WERE VERY MUCH WORRIED AND DISAPPOINTED AND FRUSTRATED.

BUT IF YOU LOOK AT WHERE WE ARE RIGHT NOW, I THINK YES, IT IS A LONG WAY, BUT WELL, WE HAVE BEEN COPING WITH THAT VERY WELL.

SO I THINK WITH CONTINUOUS IMPROVEMENT WITH SCIENTIFIC PROGRESS MADE TO COME UP WITH NEW PROBABLY VACCINATIONS TO COPE WITH THE VIRUS, I THINK WE CAN BRING OUR INDUSTRY BACK TO NORMALCY.

AND AS I MENTIONED, OF COURSE, AND WE HAVE TO DO OUR...

THE LEISURE MARKET PRETTY MUCH IS NORMAL.

OKAY?

BUT THE BUSINESS MARKET STILL THERE'S A GAP OVER THERE WE NEED TO FEEL.

INTERNATIONAL MARKET, WE JUST START EXPERIMENTING WITH THAT.

OKAY?

WHICH HAS A LONG WAY TO GO.

BUT EVENTUALLY IF WE BRING THOSE THREE PIECES OF TRAVEL-RELATED BUSINESS BACK, I THINK WE'LL BE IN A GOOD SHAPE.

SO I'M ALWAYS OPTIMISTIC.

>>WE'LL HAVE TO LEAVE IT THERE.

THERE'S A LOT OF MORE QUESTIONS WE HAVE FOR YOU, BUT WE REALLY APPRECIATE YOU BEING ON JOINING US TODAY.

>>THANK YOU VERY MUCH FOR HAVING ME.

>>AND THANK YOU FOR JOINING US.

WE'LL SEE YOU AGAIN NEXT WEEK ON ANOTHER EPISODE OF GLOBAL PERSPECTIVES.