On a somber note, World Travel & Tourism Council (WTTC) research estimated that 100.8 million travel industry jobs could be lost in the wake of the coronavirus crisis.
More somber still, the 100.8 million figure increased by more than 30 percent in the last four weeks, according to the WTTC research, which noted that 75 million of those at-risk jobs are in the European Union’s Group of 20 (G20).
The WTTC research also revealed a serious escalation in economic loss to the world economy, rising from $2.1 trillion of gross domestic product (GDP) a month ago to $2.7 trillion today.
The havoc wrecked by the coronavirus has led the loss of more than 1 million jobs a day, WTTC said.
“This is a staggering deeply worrying change in such a short time,” said WTTC President CEO Gloria Guevara. “In just the last month alone, our research shows an increase of 25 million in the number of job losses in travel tourism. The whole cycle of tourism is being wiped out by the pemic.”
Broken down by region, the research found that potential job losses could reach 63.4 million, with a GDP loss of more $1 billion in