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WTTC Expects Travel & Tourism to Contribute With $8.6 Trillion to Global Economy in 2022

In 2019, before the outbreak of the coronavirus pandemic and the global lockdown imposed in an attempt to stem its spread, the travel and tourism sector generated nearly $9.2 trillion for the global economy.

In a press release issued by the World Travel and Tourism Council, its President and CEO, Julia Simpson, said that the global travel and tourism sector has suffered huge losses over the past two years.

“2022 is set for a strong recovery if governments continue to open up and remove travel restrictions. Our sector could restore more than 58 million jobs and generate $8.6 trillion, which will boost economic recovery around the world. As people start traveling again, governments must implement rules Simplified, including digital solutions, adding that the future of travel should be contactless while ensuring safety for all travelers.

Research by the World Trade Center recently showed that the global travel and tourism sector’s contribution to the global economy could reach $8.6 trillion this year, just 6.4 percent behind pre-pandemic levels.

The same also shows that COVID-19 measures imposed in an attempt to prevent the spread of infection have led the sector to an almost complete standstill, resulting in a 49.1 percent decline in the sector’s contribution to the global economy, translating the “language of money” into a loss Nearly $4.5 trillion in 2020 alone.

The research also claims that if vaccination of the world’s population continues at the same pace this year, 58 million new jobs could be created in the sector by the end of the year, bringing the total jobs in the sector to 330 million, or just one percent. below pre-pandemic levels, and 211.5 percent more than 2020, TheSchengen.com reports.

Data show that in 2019 the sector generated 10.4 percent of global GDP and more than 330 million jobs. According to the WTTC, to reach pre-pandemic levels this year, governments around the world must continue to work to vaccinate more people, including with booster vaccines, while allowing fully vaccinated travelers to move about freely without requiring pre-departure testing or Upon arrival.

Previously, TheSchengen.com reported that global tourism authorities ACI EUROPE and the International Air Transport Association (IATA) have urged governments to lift restrictions and enable international travel with digital solutions that allow travelers to test their status quickly, safely and directly.

Italy, France and Portugal are the three countries that have suffered huge losses in the tourism sector due to the pandemic. In Portugal, nearly 92,000 people working in the travel and tourism sector lost their jobs last year.

The French travel and tourism sector also lost 138 thousand jobs, which represents a decrease of 10.5 percent in this sector. It is believed that 219,000 workers remained unemployed in the second half of 2021. Italy is the third country to have revealed that 263,000 tourism-related jobs have been abolished by the end of 2021, and the country has seen the loss of 215,000 jobs in the A sector in 2020.

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Source: schengenvisainfo.com

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