UN says collapse of tourism could cost the world more than USD Four trillion

World

Published: 2021-06-30 12:36

Last Updated: 2023-01-27 06:40


UN says collapse of tourism could cost the world more than USD Four trillion
UN says collapse of tourism could cost the world more than USD Four trillion

Wednesday, the United Nations Conference on Trade and Development (UNCTAD) confirmed in a report that the collapse of international tourism due to the coronavirus pandemic could lead to a global loss of more than USD four trillion 2020 and 2021.

According to the report jointly presented by UNCTAD and the United Nations World Tourism Organization (UNWTO), "Globally, the COVID-19 blow to international tourism has resulted in a gross domestic product loss of over USD four billion for 2020 and 2021 alone."

The report noted that the tourism sector’s recovery will mainly depend on the process of coronavirus vaccination globally.

UNCTAD Acting Secretary-General Isabelle Durant said “The world needs a global vaccination effort that will protect workers, mitigate adverse social effects and make strategic decisions regarding tourism, taking potential structural changes into account"

Secretary General of UNWTO Zurab Pololikashvili said “Tourism is a lifeline for millions, 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, especially in developing countries, many of which are highly dependent on international tourism.”