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COVID-19 pandemic costs the tourism industry $935 billion in revenue worldwide

January 9, 20211130 Views

-As the country with the most reported COVID-19 cases, the United States has suffered the biggest drop in tourism revenue with a total loss of $147,245 million-With the country seeing less than 20 million foreign visitors in 2020, Spain has the second largest revenue loss of $46,707m-France is the world’s most visited country with over 89 million tourists each year, but the impact of COVID-19 has resulted in a total revenue loss of $42,036m-The Caribbean islands make up 50% of those who have suffered the highest percentage loss in GDP, with Aruba, Turks and Caicos Islands, Antigua and Barbuda, St. Lucia and Grenada all ranking in the list of the top 10 worst affected FILE PHOTO: A man carries a surfboard at Kuta beach on the Indonesian resort island of Bali on August 15, 2020, which ha...

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Global tourism lost $320 billion in first five months this year

UPENDRA SWAMI

August 22, 2020395 Views

Travel and tourism have been one of the main industries to be gravely affected by COVID-19, leaving many countries with no choice but to close its borders to tourists for months due to the global pandemic outbreak. This has resulted in huge losses for almost all countries, especially those with high dependence on tourism revenue. UNWTO said in its World Tourism Barometer update for July 2020 that international tourist arrivals (overnight visitors) saw a decrease of 56% in the first five months of 2020 over the same period of last year, according to data reported so far by destinations worldwide. International arrivals declined 98% in the month of May. This represents 300 million fewer international tourist arrivals in January-May 2020 compared to the same period in 2019, which tran...