The World Tourism Organization (UNWTO) has released its updated assessment of the likely impact of the COVID-19 on international tourism.
Tourism is among the hardest hit of all economic sectors that could Fall by 20-30% in the year 2020, translate into a decline in international tourism receipts (exports) of between US$300-450 billion, almost one-third of the US$ 1.5 trillion generated in 2019.
The travel boom has come to a screeching halt since late January when the novel coronavirus outbreak hit mainland China, and it could be years before the global tourism industry recovers.
Chinese tourists made 150 million outbound trips in 2018, spending a whopping $277 billion in their travels abroad, according to the United Nations World Trade Organization.
Around Asia, the influx of Chinese travelers has been a boon. Last year, the top 10 destinations for Chinese were all around Asia,
According to the China Outbound Tourism Research, places like Thailand, Japan South Korea and Vietnam have a lot to lose from the crippling viral outbreak. HongKong and Macao were also major destinations for tourists, will suffer, too.
Similarly in the United States, nearly every sector of the American economy is reeling. But the most affected is the travel industry, which has losses close to $900 billion.
In Italy itself tourists from across the world halted in rolling hills of Tuscany and the ancient city of Pompeii.
They looked almost abandoned since the coronavirus pandemic turned the Mediterranean country into a strict no-go zone.
Due to that one of the world’s most visited places is profound. Tourism employs an estimated 4.2 million Italians, it has left regional carrier pilots, bus drivers & hotel maids out of work.
There were many events in Pakistan that were also canceled due to an international ban on travelers, resulted in called hotel bookings.
Pakistan’s hotel industry lost Rs100 million in February alone due to a notable drop in the number of visitors.
The loss is set to decline further owing to the steadily increasing numbers declined to 40% by the first week of March