Covid robs tourism by the billion – TTR Weekly

LONDON, 25 August 2020: Visa service provider Official-esta.com has looked into which countries have suffered the biggest revenue loss, alongside the highest percentage of GDP lost to reveal the financial impact of Covid-19 on world tourism.

As the country with the most reportedCovid-19 cases, the USA (5.7 million cases) suffered the biggest drop inrevenue with a loss estimated at USD30,709 million.

With a reported drop of 98% ininternational tourist arrivals in June, Spain has the second-largest revenueloss of USD9,741 million.

France is the worlds most visited country,with over 89 million tourists each year, but the impact of Covid-19 hasresulted in a revenue loss of USD8,767 million.

The Caribbean islands make up 50% of thosewho have suffered the highest percentage loss in GDP, with the Turks and CaicosIslands, Aruba, Antigua and Barbuda, St. Lucia and Grenada all ranking in thelist of the top 10 worst affected.

Combining each countrys loss in revenue,the financial impact of Covid-19 on world tourism has resulted in a revenueloss of USD195 billion worldwide so far.

In 2019, global travel and tourismcontributed USD8.9 trillion to the worlds GDP, yet due to the currentpandemic, the financial impact of Covid-19 on world tourism has resulted in arevenue loss of USD195 billion worldwide in the first four months of 2020.

Official ESTA director of internationaldevelopment Jayne Forrester commented: Taking into account how travel andtourism contribute USD8.9 trillion to the worlds GDP alone, it is devastatingto see a total loss of USD195 billion worldwide in the first four months of2020 alone.

As travel bans have started to ease offfrom July, we only hope that we see no more significant losses to one of thelargest growing sectors in the world.

MethodologyData drawn from the World Travel and Tourism Council report on the impact Covid-19 has had on the travel industry. GDP data are taken from The World Bank. Data correct as of July 2020. Data available here

About Official ESTAOfficial ESTA is an online visa application and assistance processing firm, founded in 2011. It offers a simple step by step process for people to apply for their ESTA visa waiver that is required by anyone visiting the United States.

The countries with the biggest tourism revenue loss due to COVID-19:

The countries which have lost the highest % of GDP due to loss of tourism:

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Covid robs tourism by the billion - TTR Weekly

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