July 2, 2020
The report published by the World Travel & Tourism Council (WTTC) present that even a modest increase of just 1 million more international arrivals into Europe could generate $0.48 billion in GDP that would provide a massive and much-needed economic boost for economies struggling to survive following the imposition of travel restrictions to combat the spread of coronavirus pandemic.
WTTC represents the global tourism private sector that carried out an analysis which shows even relatively minor increases in travelling would bring significant economic and job benefits. It says, in every 1 per cent increase in international arrivals $7.23 billion in additional GDP would be generated. Gloria Guevara, the WTTC president, said that we know restarting the tourism sector is a huge challenge, but the economy can be restarted. It is vital that governments ensure that the right measures are in place, such as protocols and comprehensive testing and tracing program.
Furthermore, the WTTC research makes it clear that even a modest resumption of travelling can have massive economic benefits and bring thousands of job opportunities back.