The coronavirus pandemic has attracted top world markets to a grinding stop and has negatively influenced various businesses. With over fifty percent of the world under lockdown, among those industries to have a huge success is that the tourism market.
As stated by the World Travel & Tourism Council (WTTC), the tourism industry accounts for one in ten occupations throughout the planet but as a result of coronavirus crisis as far as 75 percent of it under danger.
“research conducted by WTTC indicates that 75 million Travel & Tourism occupations are at risk internationally because of this COVID-19 pandemic, together with 6.4 million reductions across the EU, and one million in the united kingdom,” cites WTTC on its webpage.
The coronavirus pandemic has closed the tourism industry and states like Spain and Italy, which depend hugely on their tourism business, have taken a massive hit.
According to WTTC statistics, Spain and Italy, two of the European countries to have borne a serious brunt of this coronavirus outbreak, reap near 15 percent of the total GDP in the tourism industry. According to the 2019 statistics, Spain totaled almost 14 percent to its GDP through its tourism and travel industry.
Other countries with a substantial hit to their tourism and travel industry include China, Germany, France, the Uk, and the USA. These countries have approximately 8-10%, more for several nations, of the GDPs gain in the tourism industry.
Coronavirus instances have spanned more than 2 million globally.