Global tourism industry may shrink by 25%, 50M jobs at stake due to Coronavirus: World Travel and Tourism Council

On Friday, in a statement the World Travel and Tourism Council said, according to its estimated, China’s coronavirus which has gone pandemic is likely to place 50 million jobs in the global travel and tourism sector at risk; it foresees international travel slumping by 25% this quarter.

The Wuhan coronavirus “clearly presents a significant threat to the industry as a whole, to those employed within it, and those wishing to continue traveling,” said the WTTC in a statement.

It went on to add, the equivalent to a loss of three months of global travel in 2020 “could lead to a corresponding reduction in jobs of between 12% and 14%”. It also called on governments to remove or simplify visas procedures wherever possible, trim travel taxes and introduce incentives once the epidemic has come under control.

The tourism industry accounts for nearly 10% of the world’s GDP and jobs.



Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Strategy

Tags: , , , , , , , , , , , , , , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: