WTTC urges all countries to provide financial help to tourism sector
The World Travel & Tourism Council (WTTC) has urged governments around the world to provide financial help to millions working in the tourism sector who are facing tremendous economic difficulties. Governments must extend vital, interest free loans to global travel and tourism companies as well as the numerous small and medium sized businesses as a stimulus.
All government taxes, dues and financial demands on the travel sector need to be waived with immediate effect at least for next 12 months, WTTC stated in its letter.
“We urge every government to take drastic and decisive action to preserve and protect the tourism and travel sector, on which more than 320 million people and their families depend on for their livelihoods. Travel is the backbone of economies around the world. It brings in essential currency and investments, creates jobs and stimulates every sector. WTTC figures show travel & tourism sector contributing 10.4% of the global GDP. It is responsible for creating one in five new jobs and for eight successive years has outpaced the growth of the global economy,” the letter said.
WTTC called upon governments of all countries to take immediate action to help ensure the survival of this critical job creating sector. “Any delay will cost us in millions of lost jobs and almost incalculable damage worldwide,” it added.