Covid-19 and tourism: an update
The crash in international tourism due to the coronavirus pandemic could cause a loss of more than $4 trillion to the global GDP for the years 2020 and 2021, according to an UNCTAD report. The estimated loss has been caused by the pandemic’s direct impact on tourism and its ripple effect on other sectors closely linked to it. The report, jointly presented with the UN World Tourism Organization (UNWTO), says international tourism and its closely linked sectors suffered an estimated loss of $2.4 trillion in 2020 due to direct and indirect impacts of a steep drop in international tourist arrivals. A similar loss may occur this year, the report warns, noting that the tourism sector’s recovery will largely depend on the uptake of COVID-19 vaccines globally.
- An update on the short-term impacts of COVID-19 on the Malawian economy, 2020–2021
- Mozambique Economic Update, February 2021: setting the stage for recovery
- Kenya economic update: navigating the pandemic
- The short-term impacts of COVID-19 on the Malawian economy, 2020–2021: A SAM multiplier modeling analysis