Global tourism
29.10.2020
Global tourism profits declined by 81% in July and 79% in August. This is stated in release of the UN World Tourism Organization, published on October 27.
World tourism profit decreased by 70% and amounted to USD 730 billion for the first eight months of 2020. "Demand for travel remains largely low due to ongoing uncertainty about the pandemic. Based on recent trends, it is expected that the overall decline during 2020 will be about 70%", th.organization stressed. The resulting loss is more than eight times higher than the losses incurred by tourism sector in 2009 due to the global economic crisis. It is worth to note that the number of tourists decreased all over the world. The Asia-Pacific region was the first to be hit by COVID-19, with arrivals fallen by 79 percent. This is followed by Africa and Middle East (both 69 percent), Europe (68 percent) and countries of America (65 percent). UN experts predict a revival of international tourism in the third quarter of 2021. According to the pessimistic forecast, recovery of tourism will not occur until 2022.
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