Tag: Trillion
Travel and Tourism Sector losses US$4.5 trillion in 2020 due to COVID impact: WTTC Report
The World Travel & Tourism Council’s annual Economic Impact Report (EIR) today reveals the full devastating impact of COVID-19 had on the global Travel & Tourism sector last year, which suffered a massive loss of almost US$4.5 trillion. The annual EIR from the World Travel & Tourism Council (WTTC), which represents the global Travel & Tourism private sector, shows the sector’s contribution to GDP dropped a staggering 49.1%, this compared to the overall global economy which dropped by just 3.7% last year. Vast losses run up during 2020, paint the first full picture of a sector struggling to survive in ... Read more