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Global economy may lose over $4 trillion due to Covid-19 impact on international tourism, - UN

Source : 112 Ukraine

According to UNWTO, international tourist arrivals declined by about 1 billion or 74% between January and December 2020
19:20, 30 June 2021

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The global economy could lose more than $ 4 trillion in 2020 and 2021 due to the catastrophic impact of the coronavirus pandemic on international tourism. This was reported by the UN press service, referring to an UNCTAD report published on 30 June.

The report, jointly presented with the UN World Tourism Organization (UNWTO), says international tourism and its closely linked sectors suffered an estimated loss of $2.4 trillion in 2020 due to direct and indirect impacts of a steep drop in international tourist arrivals.

Related: World Bank to allocate $350 million to Ukraine to restore economy

According to UNWTO, international tourist arrivals declined by about 1 billion or 74% between January and December 2020. In the first quarter of 2021, the UNWTO World Tourism Barometer points to a decline of 84%.

The recovery of the tourism sector will be highly dependent on the rate of vaccination and the overall availability of vaccines.

As we reported earlier, the Prime Minister of Ukraine Denys Shmyhal instructed the Deputy Prime Minister for European Integration Olha Stefanyshyna to intensify work on completing the audit of the Ukrainian Covid-certificate for tourists.

Related: EBRD improves prediction of growth of Ukraine’s economy for 2021

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