Government restrictions to curb the coronavirus pandemic have kept billions of people at home, bringing international travel and tourism to a standstill.
With the WTTC saying travel and tourism account for 10% of global GDP and one in 10 jobs, and with a third of these jobs and $2.7 trillion in GDP at risk, this article discusses how the industry might bounce back.
International tourist arrivals are predicted to be virtually nonexistent this year, predicted by the UNWTO to decline by 80% from 2019’s highs.
Domestic travel is gradually picking up again in certain countries, although it’s too soon to call a recovery. Airbnb has seen a surge in domestic bookings in Denmark and the Netherlands.