WTTC updates forecast on job losses from Covid-19

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WTTC updates forecast on job losses from Covid-19
Gloria Guevara, WTTC
Wed March 25, 2020

According to the latest data, the pandemic puts up to 75 million jobs at risk in the travel and tourism market

WTTC published a statement through its social networks where it reports that the latest projection of a 50% increase in jobs at risk, in less than two weeks, represents a significant and worrying trend. It adds a million jobs that are lost every day in the Travel and Tourism sector, due to the full effect of the coronavirus pandemic.

The analysis also exposes the depth of the crisis for individual regions:

The Asia-Pacific is expected to be affected with up to 49 million jobs at risk across the region, a loss of nearly $ 800 billion for Travel & Tourism GDP.
In Europe, up to 10 million jobs in Travel and Tourism are at risk, representing a loss of almost US $ 552 billion.

Germany will become the most affected country in Europe, with almost 1.6 million jobs at risk, followed by Russia, with an estimated 1.1 million potential job losses.

Italy and the UK remain the third worst affected, with both countries projected to lose up to a million jobs in the Travel & Tourism sector.

Meanwhile, the region that has experienced the least damaging impact of the outbreak is the Middle East. However, it still faces job losses of 1.8 million and a loss of GDP of up to $ 65 billion for the regional economy.


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