COVID-19's Impact on Tourism Might Cost the Global Economy over US$4 Trillion

 

July 1,2021

Anna Murray 

 

On June 30, the United Nations Conference on Trade and Development (UNCTAD) and the UN World Tourism Organization (UNWTO) jointly published a report. According to the report, a decline in international tourism amid the COVID-19 pandemic may cost the global economy more than US$4 trillion in 2020 and 2021.

 

The COVID-19 pandemic's direct impact on tourism, as well as its rippling effect on other closely related businesses, is responsible for the estimated loss. According to the study's conclusions, a similar loss could occur in 2021, and the tourism industry's recovery will be largely contingent on global acceptance of COVID-19 vaccines.

 

Acting Secretary-General of UNCTAD Isabelle Durant asked the international community to consider potential structural reforms and to invest in a worldwide vaccination effort to safeguard workers, alleviate negative social consequences, and make strategic tourist decisions.

 

The devastating impact of the COVID-19 epidemic on global tourism has continued into 2021, with new data showing an 87 percent decline in foreign tourist arrivals in January compared to the same month in 2020. In order to ensure a safe restart of tourism and avoid severe losses for the sector in 2021, the UNWTO continues to pursue for better collaboration among governments on travel protocols.

 

To achieve a brighter 2021, the international community must act quickly and decisively to revitalize tourism. Many millions of people's livelihoods and companies rely on it. According to Zurab Pololikashvili, Secretary-General of the United Nations World Tourism Organization, tourism is a lifeline for millions of people, 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, particularly in developing countries where many people rely heavily on international tourism.

 

Photo:webshot.

source: 
Global People Daily News