Tourism sector with losses of at least one billion euros in 2020

The report released at the United Nations Conference on Trade and Development indicates that these losses could reach three billion euros, if the impact on international leisure travel continues until March 2021.

Cristina Bernardo

The tourism industry could lose at least 1,2 trillion dollars globally this year, according to data published this Wednesday, July 1, at the United Nations Conference on Trade and Development , informs “Bloomberg”.

According to the report, these initial losses are equivalent to 1,5% of the world economy and can reach 3,3 trillion dollars (three billion) if the impact on international leisure travel continues until March 2021.

The drop in tourism could cost Jamaica 11% of its Gross Domestic Product (GDP) and reduce Thailand's GDP by 9%. In turn, countries like Kenya, Egypt and Malaysia could lose more than 3% of their GDP, according to the report.

This loss of tourism revenue could lead to a sharp increase in unemployment of 12% in Thailand, 11% in Jamaica and 9% in Croatia.

The report also places Portugal in a group of richer countries with more diversified economies, including France, Greece, Italy, Spain and the United States, which will also lose billions of euros in tourism revenue.

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