Tourism and Corona Virus (COVID-19)

The tourism sector is currently one of the sectors hardest hit by the outbreak of the COVID-19 virus, with its effects on both supply and demand for travel. This represents an additional risk in the context of the emergency weakness of the global economy and geopolitical, social and trade tensions, as well as the unequal performance among the major exporting markets. Given the evolving nature of the situation, it is too early to assess the full impact of COVID-19 on international tourism. For a preliminary evaluation, the World Tourism Organization takes the SARS scenario criterion for 2003, calculating the size and dynamics of global travel and current disturbances, the geographical spread of COVID-19 and its potential economic impact:

The World Tourism Organization today estimates that the number of international tourists in the world may decrease in 2020 by 20-30%, instead of growing by 3% to 4%, as expected in early January 2020. This could translate into a loss of between $ 30 to $ 50 billion in international visitor spending (international tourism revenue). It is too early to present estimates for other regions of the world, given the rapid developments in the situation. The World Tourism Organization stresses that any forecasts should be cautious, due to the volatile and uncertain developments of this outbreak that may lead to additional reviews.