Covid could cost global tourism $1 trillion

Must read

Border Officers Refute Claim That Fentanyl Isn’t Smuggled Into U.S. Between Ports Of Entry

By Bethany Blankley (The Center Square) U.S. Rep. Jamie Raskin, D-Maryland, claimed at a U.S. House...

House Committee Wants to Know Who Bought Hunter Biden’s Art, But Dealer Won’t Say

The art dealer who manages the works of Hunter Biden isn’t playing ball with Republicans seeking...

West Virginia Gov. Jim Justice Looms Over Joe Manchin’s Reelection Bid in New Poll

Joe Manchin always seems to be stuck between a rock and a hard place on national...

Democrat NYC Mayor is Bussing Illegal Immigrants to Canada

It seems like only yesterday that Republican politicians were being accused of racism or even kidnapping for the...

Revenue from international tourism could reach $800 billion in 2021, a small improvement from 2020 but less than half the $1.7 trillion recorded in 2019, the UN’s World Tourism Organization (UNWTO) said on Monday.

According to the tourism body, the economic contribution of tourism is estimated at $1.9 trillion in 2021 (measured in tourism direct gross domestic product) – well below the pre-pandemic value of $3.5 trillion.

“Despite recent improvements, uneven vaccination rates around the world and new Covid-19 strains could impact the already slow and fragile recovery,” UNWTO said. “The economic strain caused by the pandemic could also weigh on travel demand, aggravated by the recent spike in oil prices and disruption of supply chains.” 

READ MORE: South Africa blasts UK for hasty Covid travel ban

The UNWTO expects international tourist arrivals to remain 70% to 75% below 2019 levels in 2021, a similar decline as in 2020. 

The global tourism sector already lost $2 trillion in revenue last year due to the pandemic, according to the UNWTO, making it one of the hardest-hit sectors of the crisis.

For more stories on economy & finance visit RT’s business section

More articles

Latest article

Border Officers Refute Claim That Fentanyl Isn’t Smuggled Into U.S. Between Ports Of Entry

By Bethany Blankley (The Center Square) U.S. Rep. Jamie Raskin, D-Maryland, claimed at a U.S. House...

House Committee Wants to Know Who Bought Hunter Biden’s Art, But Dealer Won’t Say

The art dealer who manages the works of Hunter Biden isn’t playing ball with Republicans seeking...

West Virginia Gov. Jim Justice Looms Over Joe Manchin’s Reelection Bid in New Poll

Joe Manchin always seems to be stuck between a rock and a hard place on national...

Democrat NYC Mayor is Bussing Illegal Immigrants to Canada

It seems like only yesterday that Republican politicians were being accused of racism or even kidnapping for the...

Border Chief: Majority Illegally Entering Tucson Sector Are Single Military Age Men

By Bethany Blankley (The Center Square) What’s portrayed on national television about large family groups...