The coronavirus pandemic has brought top world economies to a halt and has adversely affected various sectors. With more than half of the globe under lockdown, one of the sectors to take a massive hit is the tourism industry.
According to the World Travel & Tourism Council (WTTC), the tourism sector accounts for one in ten jobs across the globe but due to the coronavirus crisis, as much as 75% of it under threat.
“Research conducted by WTTC shows that 75 million Travel & Tourism jobs are at risk globally due to the COVID-19 pandemic, with at least 6.4 million losses across the EU, and one million in the UK,” mentions WTTC on its webpage.
The coronavirus pandemic has shut the tourism sector and countries like Spain and Italy, who depend massively on their tourism industry, have taken a huge hit.
According to WTTC data, Spain and Italy, two of the European nations to have borne a severe brunt of the coronavirus outbreak, reap close to 15% of their total GDP from the tourism sector. As per the 2019 figures, Spain accrued nearly 14% in its GDP through its tourism and travel sector. For Italy, the figure stood at around 13%.
Other nations with a significant hit to their travel and tourism sector include China, Germany, France the United Kingdom and the United States. All these nations have around 8-10%, more for some nations, of their GDPs benefit from the tourism sector.
Coronavirus cases have crossed over 2 million worldwide. Over one lakh people have lost their lives to the deadly contagion that originated from the Chinese city of Wuhan last year in December.
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