Impact of corona on tourism industry

The tourism economy has been heavily hit by the corona virus (COVID-19) pandemic and measures introduced to contain it's spread. Depending on the duration of crises revised scenarios indicate that the potential shock could range between a 60-80% decline in the international tourism economy in 2020. Beyond immediate measures to support the tourism sector, countries are also shifting to develop recovery measures. These include considerations on lifting travel restrictions, restoring traveller confidence and rethinking the tourism sector for the future.

In the wake of the corona virus pandemic, few industries have fallen as far and as fast as tourism. The technological revolution that brought us closer together by making travel and tourism easy and affordable—a revolution that fuelled one billion trips a year—is helpless in halting a virus that demands we shelter in place.

Taking a snapshot of tourism losses is difficult, as the data changes as quickly as the virus spreads. If the pandemic continues for several more months, the World Travel and Tourism the trade group representing major global travel companies, projects a global loss of 75 million jobs and $2.1 trillion in revenue. Losses come daily; as of April 2, British Airways is reportedly poised to suspend.