It's not an approach, it's reality. Covid is too widespread to eliminate now. Unlike illnesses like smallpox that offer lifetime immunity, immunity from recovering from covid is fleeting. Like the cold, it will reoccur. We are still dealing with the Spanish Flu today. It didn't go away after 1919. It's in every annual flu shot.
Many things have been a big part of the economy. Farming, coal and oil for example. They no longer are. As they diminished other sectors like tech took over. Nothing is so big that it being eliminated would be too big of a loss. Disruption is opportunity. 100 years ago most people worked on farms. Today very few people do. 50 years ago industrial production was the growth sector in the US. Now it's services.
Things have changed. It isn't temporary or unexpected. Covid merely accelerated trends. I doubt that business travel will ever get back to what it was. Video conferencing is a viable alternative. Work from home is here to stay for many people. Some hotels are adapting to the change in tourism by offering day services. It turns out that a lot of people don't want to stay overnight, they just want a staycation during the day and then go home at night. The only constant in the economy is change.
Conventions will happen. Large gatherings are already happening in other parts of the world that have covid under control. In the US, covid is not under control. Until it is there's too much risk in the US.