At least 30 per cent of the world’s tourism revenue will be reduced by the coronavirus pandemic, the UN World Tourism Organization predicts. Between $ 300 billion and $ 450 billion will be less realized by the industry globally, with revenue up about 70 percent from 2019, the organization predicts. Given the market trends this year alone, the industry’s growth since 2013 will be wiped out, experts say.
The organization recalls that international travel declined by only 4 percent during the global economic crisis in 2009, with the previous SARS killer coronavirus damaging just 0.4% to the sector. And although the organization is worried about making more accurate forecasts, they are adamant that millions will lose their jobs in the tourism sector.