WTTC: Travel and tourism sector set to lose nearly 100m jobs even in best case scenario

World Travel & Tourism Council (WTTC) outlined (10-Jun-2020) three potential outcomes for the global travel & tourism (T&T) sector based on the pace of the recovery in global travel:

• Worst-case scenario: Current restrictions starting to ease from Sep-2020 for short haul and regional travel, from Oct-2020 for mid haul and from Nov-2020 for long haul. In this scenario, 197.5 million jobs could be lost in the global T&T sector, with a loss of USD5 543 billion in global GPD. Meanwhile, global visitor numbers would drop by 73% for international arrivals;
• Baseline scenario: Current restrictions starting to ease from Jun-2020 for regional travel, Jul-2020 for short haul or regional travel; from August for mid haul, and from Sep-2020 for long haul. In this scenario, a total of 121.1 million jobs could be lost in the global T&T sector, with a loss of USD3435 billion in global GDP. Meanwhile, global visitor numbers would drop by 53% for international arrivals and by 34% for domestic arrivals;
• Best-case scenario: Current measures starting to ease from Jun-2020 for short haul and regional travel; from Jul-2020 for mid haul and from Aug-2020 for long haul. In this scenario, a total of 98.2 million jobs could be lost in the T&T sector, half the number in the worst-case scenario, with a loss of USD2686 billion in global GDP. Meanwhile, global visitor numbers would drop by 41% for international arrivals and by 26% for domestic arrivals. [more - original PR]