The global coronavirus outbreak could cause as much as US$3.3 trillion in losses to the global tourism industry if the pandemic lasts a year.
GENEVA (AN) — The global coronavirus outbreak could cause as much as US$3.3 trillion in losses to the global tourism industry if the pandemic lasts a year, the U.N. Conference on Trade and Development reported on Wednesday.
That would equal 4.2% of global GDP. Even under the most optimistic scenarios — a quick end to four months of COVID-19 lockdowns — the losses will likely be at least US$1.2 trillion, or 1.5% of global GDP, the United Nations agency known as UNCTAD said in a 27-page report.
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