How much the global tourism business will lose due to an epidemic: United Nations announces a forecast

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According to a new United Nations study, the tourism industry in the United States and China will suffer the most from the COVID-19 epidemic.

Photo: ici.radio-canada.ca

In the event that in one year the world’s quarantine measures, the global tourism business cannot be worth $ 3.3 trillion, or 4.2% of world GDP. If the sanctions remain for eight months, the loss could be $ 2.2 trillion, or 2.8% of global GDP. According to the results of four months of global quarantine, the tourism industry did not receive $ 1.2 trillion, or 1.5% of the planet’s GDP.

The largest share of losses to American travel companies. Under an optimistic scenario, they would lose $ 187 billion. In second place is China, whose losses will be more than $ 100 billion. Next are Thailand ($ 47.7 billion), France ($ 47.2 billion), Germany ($ 46.2 billion), Spain ($ 44). 1 billion), Great Britain ($ 37 billion), Italy ($ 34.2 billion), Japan ($ 30.7 billion) and India ($ 28.1 billion).

If we talk about a loss in percentage, Jamaica would get the biggest shock, according to the forecast – an 11% drop in GDP as a result of the cold to the tourism industry during the quarantine period. Thailand will lose 9% of GDP, Croatia – 8%, Portugal – 6%.

Thus, for many countries, such as small island developing states, a decline in tourism means a decline in their growth prospects, says Yuen. UN experts urge national governments to take care of the citizens involved in the areas most affected by the epidemic.

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The International Labor Organization (ILO) announced several scenarios for the development of employment events in relation to quarantine. The worst forecast suggests that in the second half of 2020, about 340 million inhabitants of the planet may lose their jobs.

Read: As if not before: how hotel and resort work will change after the epidemic

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