The UN World Tourism Organisation (UNWTO) has released an updated assessment of the likely impact of the Covid-19 on international tourism. Considering the unparalleled introduction of travel restrictions across the world, the UN specialised agency for tourism expects that international tourist arrivals will be down by 20-30% in 2020 when compared with 2019 figures.
However, UNWTO stresses that these numbers are based on the latest developments as the global community faces up to an unprecedented social and economic challenge and should be interpreted with caution in view of the extreme uncertain nature of the current crisis. An expected fall of this magnitude could translate into a decline in international tourism receipts (exports) of between USD 300-450 billion, almost one third of the USD 1.5 trillion generated in 2019.
“Tourism hardest hit.”
Taking into account past market trends, this would mean that between five- and seven-years’ worth of growth will be lost to Covid-19. Putting this into context, UNWTO notes that in 2009, on the back of the global economic crisis, international tourist arrivals declined by 4%, while the SARS outbreak led to a decline of just 0.4% in 2003.
Zurab Pololikashvili, secretary-general of UNWTO said: “Tourism is among the hardest hit of all economic sectors. However, tourism is also united in helping to address this immense health emergency – our first and utmost priority – while working together to mitigate the impact of the crisis, particularly on employment, and to support the wider recovery efforts through providing jobs and driving economic welfare worldwide.”