COVID-19 pandemic cost international tourism $320 billion in Jan-May: United Nations

In the first five months of 2020, the COVID-19 pandemic has resulted in an estimated loss of $320 billion in the global tourism revenue, threatening the livelihoods of millions of people, said the United Nations on Tuesday, July 28.

In a statement, the Madrid-based World Tourism Organisation said that the gross revenue loss between January and May is "more than three times the loss during the Global Financial Crisis of 2009". It added that the lockdown restrictions, put in place to curb the spread of COVID-19, have shattered the travel sector with international tourist arrivals plummeting about 56 percent. 

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Millions of livelihoods at risk

The UNWTO Secretary-General, Zurab Pololikashvili is reported to have said that the latest figure highlights the importance of restarting tourism as soon as it is safe to do so. He added that the sudden drop in international tourism puts millions of livelihoods at risk.

While some countries have started to ease border restrictions and reopen for international tourists, the UN body warned the sector faced serious "downside risks" such as a resurgence of the virus that could trigger new lockdowns, travel restrictions, and border shutdowns in "most destinations".  The UN body has said that the international tourist arrivals could drop as much as 60 to 80 percent in 2020 due to the coronavirus pandemic. 

As per the latest edition of the UNWTO World Tourism Barometer, "the near-complete lockdown imposed in response to the pandemic led to a 98 percent fall in international tourist numbers in May when compared to 2019. The barometer also shows a 56% year-on-year drop in tourist arrivals between January and May. This translates into a fall of 300 million tourists and US$320 billion lost in international tourism receipts." 

The UNWTO has asserted that governments across the world have a dual responsibility of prioritise public health as well as protecting jobs and businesses. The UN Tourism body called for a spirit of cooperation and solidarity in response to the shared challenge of COVID-19 and urged countries from making unilateral decisions that may undermine global trust and confidence.

Image: Unsplash/Nick Karvounis

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