The Voice of the Cruise Industry
Latest News
MENU menu

Coronavirus: Up to 75 million jobs at risk in travel and tourism, says WTTC

Travel and tourism, travel jobs

Up to 75 million jobs are at “immediate risk” in global Travel & Tourism due to the coronavirus pandemic, resulting in a GDP loss to the world economy of up to $2.1 trillion in 2020.

This “chilling” latest projection by the World Travel & Tourism Council (WTTC) represents a 50 per cent surge in jobs at risk in less than two weeks, with one million jobs being lost every day in the sector.

According to the analysis, up to one million jobs are at risk in the UK, leading to a total GDP loss of more than £52.2 billion ($61 billion).

Europe is shown to be heavily impacted by the coronavirus outbreak, with 10 million jobs at risk, representing a loss of nearly $552 billion.

Germany is set to be the most affected country in Europe, with almost 1.6 million jobs at risk, followed by Russia with an estimated 1.1 million in job losses. Italy and the UK both follow as the third most impacted, with the countries projected to lose up to one million jobs in the sector.

However, Asia Pacific’s Travel & Tourism sector looks set to be the most hit, with 47.8 million jobs at risk. In China alone, up to 26 million jobs could be lost, with the country facing a GDP loss of $490 billion.

WTTC President & CEO, Gloria Guevara, said: “The number of jobs now at risk in the global Travel & Tourism sector is a staggering 75 million, bringing real and profound worry to millions of families around the world.

“This chilling latest figure also represents the collective delay by many governments around the world to react quickly enough to come to the aid of a sector which is the backbone of the global economy.

“If urgent action is not taken within the next few days, the Travel & Tourism sector faces an economic meltdown from which it will struggle to recover and plunge millions of people dependent upon it for their livelihoods into debt.

“Not only will this have an enormous negative impact on major businesses in the Travel & Tourism sector around the world, the ‘domino effect’ will also result in massive job losses across the entire supply chain, hitting employees and those in self-employment.

“We call on all those in positions of power to help the powerless and enact policies to support and sustain a sector which is a driving force of the global economy and responsible for generating one in five of all new jobs.”

Travel & Tourism contributes to 10.4 per cent of global GDP.

Visit wttc.org for more information.

Sign In

Lost your password?