News / WTTC reports dramatic impact of COVID-19 on Travel & Tourism around the worldwide

WTTC reports dramatic impact of COVID-19 on Travel & Tourism around the worldwide

🕔 July 6, 2021
HomeToGo Releases Travel Trend Predictions For 2022

World Travel & Tourism Council (WTTC) published Economic Trends Report, revealing the dramatic impact of COVID-19 on worldwide Travel & Tourism. The report reveals the full impact of travel restrictions designed to control COVID-19 on the global economy, individual regions, and its job losses worldwide

According to the report, the Asia Pacific region suffered the most from the COVID-19 pandemic with the Travel & Tourism sector's contribution to GDP dropping by 53.7%, compared to the global fall of 49.1%. International visitor spending fell by 74.4%, as many countries across the region closed their borders to inbound tourists, while domestic spending declined by 48.1%. In addition, Travel & Tourism employment in the region fell by 18.4%, equating to 34.1 million jobs.

The European Travel & Tourism sector suffered the second biggest economic collapse last year, dropping 51.4% (EUR987 billion). This decline can be explained by continuing mobility restrictions to curb the spread of the virus. Domestic spending in Europe declined by 48.4%, however international spending fell even more, by 63.8%. Despite this, Europe remained the top global region for international visitor spending.

The WTTC Economic Trends Report shows how the Travel & Tourism sector enables socio-economic development, job creation, and significant positive social impact, including providing unique opportunities to women, minorities, and youth. To read the full report, please follow this link

IMCW Europe SL InfraPPP World IPP Journal

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