Up to 75 million jobs are at immediate risk in
the global travel and tourism sector due to the ongoing COVID19 coronavirus pandemic.
This alarming figure, based on research from the World
Travel & Tourism Council (WTTC),
shows a travel and tourism GDP loss to the world economy
of up to US$2.1 trillion in 2020.
The latest projection of a 50% increase in jobs at
risk, in less than two weeks, represents a significant and
worrying trend, with an astounding one million jobs being lost
every day in the travel and tourism sector.
Asia-Pacific is expected to be most
heavily impacted with up to 49 million jobs at risk throughout the
region, representing a loss of nearly US$800 billion to travel and
The latest figures also suggest that in Europe, up
to 10 million jobs are at risk, totaling a loss
of nearly US$552 billion.
The Americas are also expected to be hit hard by
this crisis, with the United States, Canada and Mexico expected to
lose up to US$570 billion combined, with nearly seven million jobs
in travel and tourism at risk.
Other countries expected to be hit
hard by this crisis include Brazil, the United Kingdom, Italy,
Germany, France, Japan, Indonesia and India.
Gloria Guevara, WTTC President & CEO, said, “The
number of jobs now at risk in the global travel and tourism sector
is a staggering 75 million, bringing real and profound worry to
millions of families around the world. This chilling new figure also represents the
collective delay by many governments around the world to react
quickly enough to come to the aid of a sector which is the
backbone of the global economy. If urgent action is not taken within the next few
days, the travel and tourism sector faces an economic meltdown from
which it will struggle to recover and plunge millions of people
dependent upon it for their livelihoods into debt. Not only will
this have an enormous negative impact on major businesses in the
travel and tourism sector around the world, the ‘domino effect’ will
also result in massive job losses across the entire supply chain,
hitting employees and those in self-employment. We call on all those in positions of power to
help the powerless and enact policies to support and sustain a
sector which is a driving force of the global economy and
responsible for generating one in five of all new jobs.”
Germany is set to be the most affected country in
Europe, with almost 1.6 million jobs at risk, followed by Russia
with an estimated 1.1 million in potential job losses. Italy and
the UK follow as the third most impacted, with both countries
projected to lose up to one million jobs in the travel and tourism
Meanwhile, the region which has experienced the
least damaging impact from the COVID19 outbreak thus far is the Middle
East. However, it still faces job losses of 1.8 million and a GDP
loss of up to US$65 billion to the regional economy.
Travel and tourism contributes to 10.4% of Global
GDP, is directly responsible for generating one in ten of the
world’s jobs, and for eight successive years, has outpaced the
growth of the global economy.