- The World Travel and Tourism Council has warned the COVID-19 pandemic could cut 50 million jobs worldwide in the travel and tourism industry.
- Asia is expected to be the worst affected.
- Once the outbreak is over, it could take up to 10 months for the industry to recover.
- The tourism industry currently accounts for 10% of global GDP.
The coronavirus epidemic is putting up to 50 million jobs in the global travel and tourism sector at risk, with travel likely to slump by a quarter this year, Asia being the most affected continent, the World Travel and Tourism Council has said.
This impact would depend on how long the epidemic lasts and could still be exacerbated by recent restrictive measures, such as those taken by the U.S. administration on travel to Europe, WTTC’s managing director Virginia Messina told Reuters.
“Certain measures are not helping and they can prompt the economic impact to be way more significant,” Messina said referring to the U.S. decision.
She argued that such policies are too generic and not proven to be effective to contain the virus. She also said that such restrictions could complicate travel by medical experts and delivery of medical supplies.
Around 850,000 people travel each month from Europe to the United States, equivalent to a $3.4 billion monthly contribution to the U.S. economy, Messina said.
Of the 50 million…