30-Oct-2020 10:36 AM

WTTC improves forecast for COVID-19 impact on travel and tourism sector jobs

World Travel & Tourism Council (WTTC) revised (29-Oct-2020) its forecast for the impact of COVID-19 and related travel restrictions on the global travel and tourism sector. WTTC stated expectations for 2020 job losses improved from 174 million to 143 million if air travel restrictions are removed sooner. It cautioned that if current restrictions to international travel continue through to the end of 2020 - resulting in a limited recovery - up to 174 million jobs could still be lost. Prolonged travel restrictions could also eliminate USD4.7 trillion in the sector's contribution to global GDP, cutting industry revenue by 53% year-on-year. WTTC stated the positive gain in the employment outlook is in most part driven by the return of domestic travel in countries such as China, which has shown a particularly strong recovery of its domestic market. It has also implemented a comprehensive testing and contact tracing programme, alongside health and hygiene protocols, further contributing to this significant increase. [more - original PR]

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