COVID NEWS | Global economy can lose $4 trillion due to Covid-19 impact on tourism: UN
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A similar loss may occur this year, the report warns, noting that the tourism sector's recovery will largely depend on the uptake of Covid-19 vaccines globally.
The crash in international tourism due to coronavirus pandemic can cause a loss of more than four trillion dollars to the global GDP for the years 2020 and 2021, according to an UNCTAD report published on Wednesday.
The estimated loss has been caused by the pandemic's direct impact on tourism and its ripple effect on other sectors closely linked to it.
The report, jointly presented with the UN World Tourism Organisation (UNWTO), says international tourism and its closely linked sectors suffered an estimated loss of 2.4 trillion dollars in 2020 due to direct and indirect impacts of a steep drop in international tourist arrivals.
