Statista: Global tourism revenue projected to fall 55% in 2020, recovery by 2023

Statista projected (20-Jan-2021) a 55% year-on-year decline in global tourism revenue for 2020. International tourism arrivals fell by 72% for the year to the end of Oct-2020, according to UNWTO data. The global travel and tourism market is set to recover fully from the coronavirus pandemic by 2023 and achieve record turnover figures. According to Statista's 2021 market outlook, global travel and tourism revenue will recover by over 50% compared to 2020. Revenue growth above 2019 levels are expected from 2023 onwards, with revenue growth of almost 23% by 2025 compared to the 2019 baseline. [more - original PR]