The travel and tourism industry was oneof the first sectors to be affected by COVID-19. SinceMarch, the entire value chain that defines the industry —spanning airlines, bus and train companies, cruise lines,hotels, restaurants, attractions, travel agencies, touroperators,online travel entities, and others — has entered astate of suspended animation. While bankruptcies of majorairlines and large tour operators have been widely reported,the effectsof the crisis are perhaps being most acutely feltby the Small and Medium-sized Enterprises(SMEs) that make uparound 80 percent of licensed tourism and tourism-relatedbusinesses, and are at the greatest risk of failure. Theirpotential collapse threatens to adversely affect millions ofpeople across the world, including many vulnerablecommunities, who depend on tourism for their livelihoods.According to the World Travel and Tourism Council, as manyas 100 million jobs supported by travel and tourism arecurrently at risk.