(TAN): The global travel sector could lose 197.5 million jobs if restrictions such as quarantine and travel advisories are continued, a new research from the World Travel & Tourism Council (WTTC) has indicated.
The WTTC’s economic modelling, on which the study is based, also showed prolonged controls on travel could cost the worldwide travel and tourism sector USD 5.5 trillion.
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“Unfortunately, our new modelling reveals the depth of the long-term impact facing the global Travel & Tourism industry if travel restrictions continue for an extended period of time.Under our worst-case scenario, prolonged travel restrictions could put more than 197 million jobs under threat and cause a loss of more than USD 5.5 trillion to global Travel & Tourism Gross Domestic Product (GDP),” WTTC President and Chief Executive Officer Gloria Guevara said.
The study also found in case of the worst-case scenario where restrictions are lifted after summer, the growth in job loss will be a staggering 96% from the 100.8 million jobs WTTC had earlier projected to be at risk from COVID-19. The scenario could also mean a plunge of 73% for global international arrivals and 64% for domestic arrivals, the research revealed.
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Of the total travel-related jobs at risk, 99.3 million jobs could be saved if travel restrictions are lifted more readily, the research showed. Continued control on travel is expected to result in the sector contributing 62% or USD 5,543 billion less to global GDP compared to 2019.
Earlier this week, the WTTC said prolonging travel measures could mean putting nearly three million jobs at risk in the United Kingdom, translating to a job loss growth of 142% to 2.9 million versus the loss of 1.2 million jobs that was estimated earlier. The research also said 1.7 million jobs could be saved if restrictions were lifted this month.
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