The World Tourism Economy loses USD 400 Billion as a result of the Corona Pandemic

The World Tourism Economy loses USD 400 Billion as a result of the Corona Pandemic

The year 2020 opened with the Corona virus outbreak. There is no tour, all countries choose quarantine. The number of international tourist arrivals is expected to drop by 20-30 percent by the UNWTO (United Nation World Tourism Organization).

This decline has an impact on millions of jobs related to tourism. According to the UNWTO, there will be a loss of around USD 300-400 billion in international tourism. This amount is almost one third of the value generated in 2019.

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“Tourism is one of the sectors hardest hit by the Corona virus, compared to the economic sector,” UNWTO Secretary General, Zurab Pololikashvili was quoted as saying by Arabnews, Tuesday (3/31/2020).

The decline in international tourism also occurred in 2003, around 0.4 percent after the SARS outbreak. Then in 2009 due to the global economic crisis as much as 4 percent.

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The UNWTO had predicted world tourism growth of 3-4 percent at the beginning of the year. However, due to the Corona pandemic outbreak, it actually decreased by 1-3 percent.

That number is believed to continue to increase. Moreover, many airlines have begun operating temporarily in order to prevent the spread of COVID-29.

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