The travel business is one of the industries most affected by the pandemic, where major airlines are suspending the majority of their trips, leaving holiday goers with cancelled bookings and airlines facing economic ruin. The WTTC analysis also shows a sharp escalation in the economic loss to the world economy, rising up to $2.7 trillion from $2.1 trillion just a month ago, equating to an estimated 1m job losses each day.Of the 100.8 million tourism jobs at risk, almost 75 million of them are in G20 countries.
Gloria Guevara, WTTC President & CEO says;
“This is a staggering and deeply worrying change in such a short time. In just the last month alone, our research shows an increase of 25 million in the number of job losses in Travel & Tourism. The whole cycle of tourism is being wiped out by the pandemic.
“We have alerted the G20 Tourism Ministers to the extent of the crisis and advised on how governments need to step in swiftly to support and protect our sector.
“Travel & Tourism is the backbone of the global economy. Without it, global economies will struggle to recover in any meaningful way and hundreds of millions of people will suffer enormous financial and mental damage for years to come.”
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