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Business news for Monday, November 2, 2020
Source: aviationbusinessjournal.aero
2020-11-02
Travel restrictions introduced in response to the COVID-19 pandemic continue to affect
Travel restrictions introduced in response to the COVID-19 pandemic continue to hit global tourism hard, with the latest data from the World Tourism Organization (UNWTO) showing a 70% drop in international arrivals during the first eight months. 2020.
According to the most recent UNWTO World Tourism Barometer, international arrivals fell 81% in July and 79% in August, traditionally the two busiest months of the year and the peak of the northern hemisphere’s summer season.
The drop through August represents 700 million fewer arrivals compared to the same period in 2019 and translates into a loss of $ 730 billion in export earnings from international tourism. This is more than eight times the loss experienced as a result of the 2009 global financial and economic crisis.
Zurab Pololikashvili, UNWTO Secretary General, said: “This unprecedented decline is having dramatic social and economic consequences and putting millions of jobs and businesses at risk. This underscores the urgent need to restart tourism in a safe, timely and coordinated manner.
According to the UNWTO, this unprecedented decline is having dramatic social and economic consequences and putting millions of jobs and businesses at risk.
All regions of the world recorded large declines in arrivals in the first eight months of the year. Asia and the Pacific, the first region to be hit by COVID-19, saw a 79% decrease in arrivals, followed by Africa and the Middle East (both – 69%), Europe (-68%) and the Americas (- Sixty-five%).
After the gradual reopening of international borders, Europe recorded comparatively smaller drops in July and August (-72% and -69%, respectively).
The recovery was short-lived, however, as travel restrictions and warnings were reintroduced amid a surge in infections. On the other side of the spectrum, Asia and the Pacific registered the biggest drops with -96% in both months, reflecting the closing of borders in China and other important destinations in the region.
Travel demand remains largely subdued due to current uncertainty about the pandemic and low confidence. Based on the latest trends, UNWTO expects an overall decline of close to 70% for all of 2020.
The UNWTO Panel of Experts foresees a rebound in international tourism in 2021, mainly in the third quarter of 2021. However, around 20% of experts suggest that the rebound could occur only in 2022.
Travel restrictions are seen as the main barrier standing in the way of international tourism recovery, along with slow containment of the virus and low consumer confidence.
The experts also identified as major obstacles to recovery the lack of a coordinated response among countries to ensure harmonized protocols and coordinated restrictions, as well as the deterioration of the economic environment.
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