Pandemic-related travel disruptions wipe out $730 BILLION in global tourism revenue – UN

Also on

FILE PHOTO: Containers fall from the deck of damaged cargo ship MSC Chitra  © Reuters / Danish Siddiqui
Global trade to take major hit this year with Covid-19 resurgence threatening more damage – UN report

However, the recovery in Europe turned out to be short-lived, as the resurgence of the virus led governments to tighten restrictions again, the UNWTO said.

The agency forecasts that demand for travel will remain largely subdued due to coronavirus uncertainty. It expects the drop in tourist flows to hit around 70 percent for the whole year. We may see a rebound in international tourism as early as in the third quarter of 2021, the UNWTO’s Panel of Experts predicted, while some gloomy forecasts say a recovery won’t happen until 2022.

For more stories on economy & finance visit RT’s business section