Graphic shows how much damage was done to international tourism in 2020 by the global coronavirus pandemic.


Covid-19 caused $4 trillion of damage to global tourism

By Ninian Carter

July 2, 2021 - The catastrophic decline in international tourism caused by the global pandemic is likely to cost the world $4 trillion in lost GDP for 2020 and 2021, according to a bleak new report from the United Nations.

A joint report by the United Nations Conference on Trade and Development and the UN World Tourism Organisation, claims international tourism and its closely linked sectors suffered an estimated loss of $2.4 trillion in 2020 due to direct and indirect impacts from a steep drop in international tourist arrivals.

It also estimates a similar loss will occur in 2021 too, because the tourism sector’s recovery is directly dependent upon the uptake of Covid-19 vaccines around the world.

With vaccinations more pronounced in wealthy countries, the report highlights how tourism losses are worse in developing nations.

The main barriers are travel restrictions, slow containment of the virus, low traveller confidence and a poor economic environment.

There is some slightly optimistic news in that a rebound in international tourism is expected in the second half of 2021, however they believe a loss of between $1.7 trillion and $2.4 trillion this year is still on the cards.

PUBLISHED: 02/07/2021; STORY: Graphic News