According to some economists, the Covid-19 pandemic has cost the Global Tourism Industry $935 Billion. The impact of Covid-19 pandemic on the sporting industry and related tourism is also evident. Covid19 pandemic left a daunting effect on the world's economy and the tourism industry comes under the voluminous grip of Covid19 pandemic. En Masse lockdown and ban on international flight cause havoc in the tourism industry. The tourism industry saw a decline of international tourists upto 72% in October 2020. The Economies of several countries solely dependent on tourism industry saw negative growth. Tourism industry contributes 7% to world GDP. Low turnout of travellers will profusely affect the world's GDP and unemployment will take an upward crescendo. The sudden decline in the tourism industry turned 244 million people jobless and the women workforce are at the receiving end as a large number of women are part of the tourism industry. The pathogen of coronavirus is transmitted from human to human, creating a big hindrance for spring thaw. The coronavirus, which keeps the tourists at bay and forces them to cancel their trips. The impact of Covid-19 pandemic on the global travel and tourism industry is quite noticeable. For countries like Mexico, Spain, Italy, Turkey, China, Australia, Saudi Arabia tourism industry is the prime contributor to GDP. Covid19 dismantled the tourism industry and affected the economy of above-mentioned countries.
1. Mexico
The global impact of Covid-19 pandemic on the hospitality and tourism industry is quite evident. Mexico is one of the attractive tourist hotspots, followed by Italy, France and Spain. Pandemic infested countries saw a drastic decrease in tourists in 2020, which is less than comparing to the previous year. The government allowed hotels to open their resorts for tourists with 30% capacity. Foreign tourists, most of them from the USA are scared to visit Mexico due to the slacky attitude of the government to control the spread of coronavirus. Tourism contributes 9% to the total GDP of Mexico and 10 million people depend on tourism for their livelihood.
2. Spain
Spain is preferred by most international tourists. Tourism industry contributes 12% of the nation's GDP and begets 2.6 million jobs. The contribution of tourism industry saw a sharp decline from $92 million of the previous year to $20 million. Spain started the covid vaccination process much earlier than other developed nations and set a target of 30% vaccination of the entire population before the onset of summer, which is a pick session for the Spanish tourism industry.
3. Italy
Italy is the third-largest economy in Europe and tourism industry is one of the propellant contributing 13.3% of the total GDP, which is almost $118 billion. The Covid19 pandemic tormented the tourism industry of Italy. Italy's tourism industry lost 367 billion euros, which plunged the economy to a new low. The huge number of people which is around 4,40000 became jobless and 100,000 tourism companies turned bankrupt.
4. Turkey
Turkey is one of the enviable destinations for foreign tourists who suffered a setback in 2020, due to the predominance of coronavirus. Turkey lost almost 44 million foreign visitors, which is 74% of the previous year. Turkey's tourism minister stated that the plan was on the anvil to recover the tourism industry from the deep gulf and instil confidence in tourists before the end of 2021.
5. China
China, the second-largest economy of the world and GDP showed positive growth of 2.3% during the harrowing time of the Covid19 pandemic, when all the other major economies showed a disastrous slump. Tourism industry is the only sector affected by the Covid19 pandemic, with a sudden decline of domestic tourism on the eve of the Covid19 pandemic. The hotel industry received a massive jolt and registered a massive decline of $9 billion. Most of the hotels were closed. During the mid of 2020, the tourism industry shows signs of recovery.
6. Australia
Australia is one of the prime tourist destinations for tourists all over the world and contributes 3.1% to the country's GDP. The persistent Covid19 pandemic severely impacted tourism and increased the unemployment rate. More than 100,000 jobs were reduced due to the sudden decline of tourism industries, which was reduced to 60% of the previous year. The relaxation of international travel will retrieve Australian tourism industries from the current mundane note.
7. Saudi Arabia
Saudi Arabia's tourism industry, which contributes 10% of the country's total GDP, was screeched to a halt and declined by 45 per cent. Saudi Arabia government had taken tangible steps to curb the spread of coronavirus. The borders were closed and international flights were clamped down, resulting in quick recovery from Covid19 pandemic.
Tourism industry is the economic jugular vein for many countries of the world and a source of employment for a huge number of the population. Covid19 pandemic coupled with lockdown dealt a telling blow to the tourism industries and GDP simultaneously. Unemployment reached a new height. Countries which economy completely dependent on tourism are worst affected by Covid19 pandemic and economic growth came to a standstill. Post the end of Covid19 pandemic, the government must provide succour to the already devastated industries in the form of monetary relief to reach the status quo. The huge number of people around 172 countries around the world depend on tourism industry for employment. WHO, IMF and World Tourism Organization should work in tandem to stop the growing tentacle of Covid19 pandemic for restoration of normalcy in the tourism industry.
Keywords:
impact of covid 19 on global travel and tourism
industry,
The global impact of covid-19 on hospitality and tourism industry,
Impact of covid-19 on the global sporting industry
and related tourism,
The Covid-19 Pandemic Has Cost The Global Tourism
Industry $935 billion
If you have any doubts, please let me know ConversionConversion EmoticonEmoticon