(TAN): The crash in international tourism due to the coronavirus pandemic could cause a loss of more than USD 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 USD 2.4 trillion in 2020 due to direct and indirect impacts of a steep drop in international tourist arrivals.
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A similar loss may occur this year, the report warns, noting that the tourism sector’s recovery will largely depend on the uptake of Covid-19 vaccines globally.
“The world needs a global vaccination effort that will protect workers, mitigate adverse social effects and make strategic decisions regarding tourism, taking potential structural changes into account,” UNCTAD Acting Secretary-General Isabelle Durant said.
UNWTO Secretary-General Zurab Pololikashvili said: “Tourism is a lifeline for millions, and advancing vaccination to protect communities and support tourism’s safe restart is critical to the recovery of jobs and generation of much-needed resources, especially in developing countries, many of which are highly dependent on international tourism.”
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A rebound in international tourism is expected in the second half of 2021, but the UNCTAD report still shows a loss of between USD 1.7 trillion and USD 2.4 trillion in 2021, compared with 2019 levels.
