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Thursday, September 29, 2022

UN: COVID 19 Pandemic could cost global tourism $2.0 trillion (353 trillion PKR) in 2021

The United Nations World Tourism Organization’s prognosis comes as Europe battles an outbreak of infections and a new significantly mutated Covid-19 version known as Omicron spreads around the world. Omicron have already impacted alot of countries economy, the global stock market and also the crypto market.

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According to the UNWTO, international tourist visits will be 70-75 percent lower this year than the 1.5 billion recorded in 2019 before the epidemic, a similar fall as in 2020.

According to the UNWTO, the worldwide tourist sector lost $2.0 trillion (around 353 trillion PKR) in revenue last year as a result of the epidemic, making it one of the sectors hardest hit by the health crisis.

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“Despite recent advances,” it stated in a statement, “uneven vaccination rates around the world and emerging Covid-19 strains” like the Delta variant and Omicron “may stymie the already slow and fragile recovery.”

The recent introduction of new viral restrictions and lockdowns in various countries demonstrates how “it’s a very unpredictable situation,” according to UNWTO chief Zurab Pololikashvili.

“It’s a historic crisis in the tourism business,” he added, “but tourism has the ability to recover quite quickly.” The WTO’s annual general assembly begins on Tuesday in Madrid.

“I sincerely hope that 2022 will be a vast improvement over 2021.”

Confusion because of the Pandemic

In addition to virus-related travel limitations, the industry is dealing with the pandemic’s economic impact, a surge in gasoline prices, and supply chain disruption, according to the UNWTO.

Pololikashvili encouraged countries to harmonize their viral measures and prohibitions, claiming that tourists are “confused and unsure of how to travel.”

According to the UNWTO, international visitor arrivals in the Northern Hemisphere “rebounded” over the summer season due to increasing travel confidence, quick vaccination, and the relaxing of entrance restrictions in many countries.

“Despite the third-quarter improvement, the speed of recovery remains unequal across geographic regions due to various degrees of mobility limitations, vaccination rates, and traveller confidence,” it noted.

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In the third quarter, arrivals on numerous Caribbean and South Asian islands, as well as some southern European destinations, approached or even exceeded pre-pandemic levels.

Other countries, particularly in Asia and the Pacific, saw very few tourists, with arrivals down 95 percent from the previous year as many destinations remained closed to non-essential travel.

Borders closed due to Pandemic


According to the UNWTO, 46 destinations have totally closed their borders to tourists, accounting for 21% of all destinations globally.

A additional 55 countries have partially blocked their borders to international travelers, while only four countries — Colombia, Costa Rica, the Dominican Republic, and Mexico — have lifted all virus-related restrictions.

The WTO’s annual general assembly, which runs until Friday, will focus on the future of the tourism industry.

The meeting, which brings together delegates from the UN’s 159 member states, was originally slated to take place in Marrakesh.

However, due to an increase of Covid-19 instances in numerous nations, Morocco opted not to host the event in late October.

Prior to the pandemic, the tourism industry accounted for roughly ten percent of global GDP and employment.

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