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Published on Friday, April 24, 2020

100 million job losses in travel and tourism




Travel and tourism faces a staggering 100 million jobs losses due to the coronavirus pandemic, according to the World Travel & Tourism Council.

The figure, based on research from WTTC, has increased by over 30% in the last four weeks.

The Covid-19 crisis has led to over one million jobs already being lost every day.

The WTTC has alerted G20 Tourism Ministers to the extent of the crisis, as they gathered by virtual conference earlier today. Almost 75 million of the 100.8 million jobs at risk are in G20 countries.

WTTC analysis also shows a sharp escalation in the economic loss to the world economy, up to US$2.7 trillion of GDP, from US$2.1 trillion just a month ago.

Gloria Guevara, WTTC President & CEO, said: "This is a staggering and deeply worrying change in such a short time. In just the last month alone, our research shows an increase of 25 million in the number of job losses in Travel & Tourism. The whole cycle of tourism is being wiped out by the pandemic.

"We have alerted the G20 Tourism Ministers to the extent of the crisis and advised on how governments need to step in swiftly to support and protect our sector.

"Travel & Tourism is the backbone of the global economy. Without it, global economies will struggle to recover in any meaningful way and hundreds of millions of people will suffer enormous financial and mental damage for years to come."

Here's the WTTC analysis of the impact:



 

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