The global travel and tourism sector is facing more than 100 million job losses due to the coronavirus crisis, the World Travel & Tourism Council (WTTC) has found.
The figure has increased by over 30% in the past four weeks, with the WTTC reporting it alerted G20 tourism ministers to the extent of the crisis at their latest gathering by virtual video conference. Of the 100.8 million jobs at risk, almost 75 million of them are in G20 countries.
WTTC analysis also shows a sharp escalation in the economic loss to the world economy, up to US$2.7 trillion of GDP, from US$2.1 trillion just a month ago.
The impact of the Covid-19 crisis has led to more than 1 million daily jobs losses already.
Gloria Guevara, WTTC president and chief executive, said: “This is a staggering and deeply worrying change in such a short time. In just the last month alone, our research shows an increase of 25 million in the number of job losses in travel and tourism. The whole cycle of tourism is being wiped out by the pandemic.
“We have alerted the G20 tourism ministers to the extent of the crisis and advised on how governments need to step in swiftly to support and protect our sector.
“Travel and tourism is the backbone of the global economy. Without it, global economies will struggle to recover in any meaningful way and hundreds of millions of people will suffer enormous financial and mental damage for years to come.”