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Covid – 19: Pandemic effect on Tourism is ‘Over 10 Times Worse’ than 2009 financial crisis

The collapse in international travel represents an estimated loss of $1.3 trillion in export revenues.

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2020 was by far the worst year in recorded history for the global tourism sector with the pandemic vaporising air travel demand and destroying tourism spending.

International arrivals in 2020 fell by 74 percent compared to 2019, according to a new report by the World Tourism Organisation (UNWTO).

According to the latest UNWTO World Tourism Barometer, the collapse in international travel represents an estimated loss of $1.3 trillion in export revenues – more than 11 times the loss recorded during the 2009 global economic fallout. Additionally, the fall in international arrivals during 2009 was just four percent – which at the time was considered a hefty blow.

UNTWO said that the pandemic has put between 100 and 120 million tourism jobs at risk, many of them being in small and medium-sized businesses.  

UNWTO’ssecretary-general, Zurab Pololikashvili, said: “While much has been made in making safe international travel a possibility, we are aware that the crisis is far from over.

“The harmonisation, coordination and digitalisation of COVID-19 travel-related risk reduction measures, including testing, tracing and vaccination certificates, are essential foundations to promote safe travel and prepare for the recovery of tourism once conditions allow.”

30 percent of those surveyed by UNTWO believe the industry’s situation will worsen this year, with 25 percent expecting similar results to last year. 45 percent believe 2021 has ‘better prospects’ than 2020.

Peoples’ confidence around 2021 has already shifted slightly, with many (50 percent) now expecting the industry to rebound next year instead.

According to UNTWO, most experts do not to see a return to pre-pandemic levels happening before 2023. In fact, 43 percent of respondents point to 2023, while 41 percent expect a return to 2019 levels will only happen in 2024 or later.

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