The World Journey and Tourism Council (WTTC) mentioned this week that as much as 50 million tourism jobs might be misplaced due to the Covid-19 pandemic because it “presents a big menace to the trade.”
Based on WTTC figures, the journey sector might shrink by as much as 25 p.c this yr.
On a constructive be aware, the council’s Chief Government Gloria Guevara mentioned that “Journey and tourism has the power to beat this problem and can emerge stronger.”
The tourism trade has been massively affected by the unfold of the novel coronavirus, as many international locations have launched journey restrictions to include its unfold. Hundreds of worldwide flights have been canceled, with some insurance coverage companies suspending journey protection for brand new prospects.
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Statistics present that Chinese language airline passenger numbers dropped by nearly 85 p.c final month. The nation’s aviation regulator mentioned on Thursday that the drop had brought on a 21 billion yuan ($ three billion) fall in income.
Korean Air has warned that Covid-19 might threaten its survival.
Based on knowledge from Tourism Economics, the US journey and tourism trade might lose not less than $ 24 billion in international spending this yr. That may be equal to about seven occasions greater than the trade misplaced throughout the SARS outbreak in 2003.
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