International tourist arrivals will stagnate this year, with the exception of some Western markets, which will cause losses of up to USD 2,400 billion, according to a study published by the UN, which adds that the sector will not fully recover until 2023.
According to this report, prepared by the UN Conference on Trade and Development (UNCTAD) and the World Tourism Organization (UNWTO), COVID-19 vaccination and certificates are vital to restore confidence in international tourism, which provides significant income for many countries, especially small island nations that rely on the tourism sector for jobs.
In 2020, international tourist arrivals fell by 73% compared to 2019, causing losses of USD 2,400 billion to tourism and related sectors, the report says.
The mentioned report presents three scenarios for 2021, according to which international tourist arrivals are expected to decrease by 63% to 75% compared to the pre-pandemic level, which would generate losses between USD 1,700 and 2,400 billion.
Zoritsa Urosevic, UNWTO representative, estimates that reaching 2019 figures will return after 2023.
Frequently Asked Questions
When is international tourism expected to recover?According to UN reports, international tourism is not expected to reach pre-pandemic levels until after 2023.
What are the estimated financial losses for the tourism sector?The sector faced losses of USD 2.4 trillion in 2020, with similar losses projected for 2021 depending on the recovery scenario.
What is needed to restore confidence in global travel?Widespread COVID-19 vaccination and the implementation of health certificates are seen as vital tools for the industry’s recovery.