174 million jobs at risk in the travel and tourism industry worldwide. This is the latest estimate made by the World Travel & Tourism Council (WTTC) and which could materialize if the limitations on international travel caused by the pandemic were to remain in force until the end of the year. Compared to a similar analysis conducted in June, the figure has nevertheless fallen. In fact, before the summer, the WTTC spoke of 197 million workers at risk, but forecasts have improved above all thanks to the return of domestic travel in countries such as China, which has shown a particularly strong recovery in its internal market.
However, the organization points out that if existing restrictions were to be relaxed, 31 million jobs could still be saved by the end of 2020. Speaking of economic repercussions, however, according to the WTCC, the persistence of current conditions would lead to a drop of $4.7 trillion in the contribution to GDP, equivalent to a 53% loss compared to 2019.
“Our latest data reveals the gravity of the long-term negative impact facing the global Travel & Tourism sector, if we don’t work together to resume international travel immediately,” said Gloria Guevara, WTTC president & CEO. “As travel restrictions around the world remained in place over the summer months, our estimates report an increase from 121m, to 143m jobs lost. This is devastating news, and we need international coordinated action now. The sector’s recovery will be delayed even further, with more jobs lost, unless quarantines are replaced with rapid, cost-effective testing at airports on departure, and air corridors. The longer we wait, the more the ailing Travel & Tourism sector faces total collapse.”
According to WTTC’s 2020 Economic Impact Report, travel & tourism was responsible for one in 10 jobs (330 million in total), making a 10.3% contribution to global GDP and generating one in four of all new jobs.
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