• December 14, 2021
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TOURISM AND COVID-19 – UNPRECEDENTED ECONOMIC IMPACTS

  • Tourism is one of the world’s major economic sectors. It is the third-largest export category (after fuels and chemicals) and in 2019 accounted for 7% of global trade.
  • For some countries, it can represent over 20% of their GDP and, overall, it is the third largest export sector of the global economy.
  • Tourism is one of the sectors most affected by the Covid-19 pandemic, impacting economies, livelihoods, public services and opportunities on all continents. All parts of its vast value-chain have been affected. 
  • Export revenues from tourism could fall by $910 billion to $1.2 trillion in 2020. This will have a wider impact and could reduce global GDP by 1.5% to 2.8%.
  • Tourism supports one in 10 jobs and provides livelihoods for many millions more in both developing and developed economies.
  • In some Small Island Developing States (SIDS), tourism has accounted for as much as 80% of exports, while it also represents important shares of national economies in both developed and developing countries.

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