In 2019, international tourist arrivals reached 1.5 billion, a 4% increase over 2018, consolidating a ten-year record where tourism grew faster than the world economy as a whole. Domestic tourism added a further 8.8 billion arrivals. The sector generated $1.5 trillion in exports and employed one in ten people directly or indirectly.
Tourism came to a standstill in mid-March 2020. International tourist arrivals decreased by 56 per cent in the first months of the year, with numbers in May down by 98 per cent. This translates into a loss of nearly $320 billion in exports – over three times what was lost during the whole of the 2009 global economic crisis.Continue reading “World Tourism Day 2021: How COVID-19 has Impacted the Economy”