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Tourism losses seen reaching $4 trillion
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How countries are faring on global goals amid COVID-19
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GENEVA, 1 July 2021: The crash in
international tourism due to the coronavirus pandemic could cause a loss of
more than USD4 trillion to the global GDP for the years 2020 and 2021,
according to a UNCTAD report released on Wednesday 30 June.
The estimated loss has been caused by the
pandemic’s direct impact on tourism and its ripple effect on other sectors
closely linked to it.
The report, jointly presented with the UN
World Tourism Organization (UNWTO), says international tourism and its closely
linked sectors suffered an estimated loss of USD2.4 trillion in 2020 due to
direct and indirect impacts of a steep drop in international tourist arrivals.
Vaccination critical to tourism s recovery, says UN body
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UNWTO
Economic losses are mounting in developing countries due to the absence of widespread COVID-19 vaccinations.
The crash in international tourism due to the coronavirus pandemic could cause a loss of more than $4 trillion to the global GDP for the years 2020 and 2021, according to an UNCTAD report published on 30 June.
The estimated loss has been caused by the pandemic’s direct impact on tourism and its ripple effect on other sectors closely linked to it.
The report, jointly presented with the UN World Tourism Organization (UNWTO), says international tourism and its closely linked sectors suffered an estimated loss of $2.4 trillion in 2020 due to direct and indirect impacts of a steep drop in international tourist arrivals.