After reports of a fourth wave of the epidemic, it appears that the impact of the new corona virus outbreak, and the ongoing spread of the pandemic, in particular, will have serious implications for tourism and thus for the global economy.

An international report by the United Nations Conference on Trade and Development (UNCTAD) confirmed that the collapse of the international tourism sector due to the outbreak of the Cofid-19 pandemic could result in the loss of more than $4 trillion in the world economy during the years 2020 and 2009.

The report, submitted jointly by UNCTAD and the United Nations World Tourism Organization: "At the global level, the COFID-19 international tourism strike resulted in a loss of GDP of more than $4,000 billion for the years 2020 and 2021 alone."

It appears that there will be significant losses not only involving the tourism sector, but also affecting other associated sectors.

In 2020, the number of international tourists fell by about 1 billion, or by more than 74 percent, and that's what the global economy is worth more than $2.4 trillion.

While some restrictions on movement and travel persist, data show tourist numbers declined by about 84 percent in the first three months of the current year.

This means that the tourism sector could hold the world economy between $1.7 and $2.4 trillion compared to pre-crisis levels in 2019.

The problem of the tourism sector is that it is a labour-dependent sector, for example, the United Nations estimates that the Corona crisis has led to an average increase in the unemployment rate of 5.5 per cent, while it can reach 15 per cent depending on the importance of the sector for each country.

With the expectation that the tourism sector may not recover before 2023 or beyond, the pace of recovery depends on the containment of HIV, vaccination, the lifting of travel restrictions and the return of passenger confidence.

 

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