Global tourism lost $195 billion in revenue due to COVID-19 pandemic
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Travel experts have looked into the biggest revenue losses and highest percentage of GDP lost per country to reveal which countries have seen the greatest financial impact as a result of the loss of tourism caused by COVID-19.
Travel and tourism has been one of the main industries to be gravely affected by COVID-19, leaving many countries with no choice but to close its borders to tourists for months due to the global pandemic outbreak. As a result of these travel bans, a number of airlines and tour operators have had to cancel long-awaited holidays, leaving world tourism at an all time low.
In 2019, global travel and tourism contributed $8.9 trillion to the world’s GDP, yet due to the current pandemic the financial impact of COVID-19 on world tourism has resulted in a total revenue loss of $195 billion worldwide in the first four months of 2020.
