The collapse of international tourism due to the pandemic could cause a loss of more than $4 trillion to the global GDP for 2020 and 2021, a new report warns. The estimated loss has been caused by the direct impact of Covid-19 on tourism and its ripple effect on other associated sectors. The study, jointly presented with the UN World Tourism Organisation (UNWTO) today (Wednesday), says international tourism and its closely linked sectors suffered an estimated loss of $2.4 trillion in 2020 due to direct and indirect impacts of a steep drop in international tourist arrivals. But experts do not expect a return to pre-Covid-19 international tourist arrival levels until 2023 or later, according to UNWTO. UNCTAD estimated a year ago that a four- to 12-month standstill in international tourism would cost the global economy between $1.2 trillion and $3.3 trillion, including indirect costs.

Source: The North Africa Journal June 30, 2021 05:37 UTC