The United Nations Conference on Trade and Development (UNCTAD) confirmed in a report on Wednesday that the collapse of international tourism due to the COVID-19 pandemic could lead to a loss of more than four trillion dollars for the global economy during 2020 and 2021. The report presented by this agency in conjunction with the United Nations World Tourism Organization stated, "Globally, the COVID-19 impact on international tourism has resulted in a loss in gross domestic product exceeding four trillion dollars for the years 2020 and 2021 alone."
International tourism and related sectors suffered losses estimated at around 2.4 trillion dollars in 2020 due to the direct and indirect effects of the sharp decline in the number of international tourists. The report noted that similar losses could be recorded this year, indicating that the recovery of tourism will be largely linked to the widespread distribution of COVID-19 vaccines worldwide.
Isabel Durán, the UNCTAD Secretary-General, stated that "the world needs global vaccination efforts that allow for the protection of workers and mitigate social harm, as well as strategic decision-making regarding tourism that takes into account potential structural changes." Because vaccination rates are unequal—with less than one percent of the population vaccinated in some countries and over sixty percent in others—the report indicates that tourism losses are greater in developing countries.
