UNWTO: Global tourism to incur losses of $2 trillion for second successive year
- Tourism sector has been amongst those worst hit due to the pandemic
- International tourism is not expected to take off for a while
- Several countries have a number of travel restrictions in place which makes it hard for tourists
Life has not been normal ever since the onset of the coronavirus pandemic and tourism has been one of the worst hit sectors because of the same. As per the United Nation’s tourism body, global tourism will suffer a loss of $2.0 trillion in revenue in 2021. It was revealed on Monday that the sector’s recovery has been “fragile” and “slow”.
The World Tourism Organisation based in Spain’s capital Madrid, made the prediction following another surge in cases in Europe. The continent is suffering from a covid outbreak once again and a new heavily mutated variant of the coronavirus, omicron, has been wreaking havoc all over the globe.
International tourism is not expected to take off and the numbers will remain 70-75 percent below the 1.5 billion arrivals which were recorded in the pre pandemic world of Covid 19. A similar decline in numbers was observed in 2020, as per the tourism body.
The global tourism industry incurred a loss of over $2.0 trillion in revenues last year as per the finding of the UNWTO consequently making it one of the worst hit sectors by the pandemic.
While it remains unclear how the sector will perform next year given the unexpected rise and fall in coronavirus cases across the globe. However, the medium term outlook is not encouraging.
In an official statement, the organisation said, "Despite the recent improvements, uneven vaccination rates around the world and new Covid-19 strains could impact the already slow and fragile recovery,"
UNWTO’s head Zurab Pololikashvili told AFP before the WTO’s annual general assembly on Tuesday, "It's a historical crisis in the tourism industry but again tourism has the power to recover quite fast,"
Some nations in Asia took a hit of as low as 95 percent in comparison to 2019 as many nations kept their borders shut for non-essential travel.
Presently, just four countries in the world have uplifted all kinds of tourism and opened their borders completely. This includes Colombia, Costa Rica, Dominican Republic and Mexico.