USD 1 Trillion Deficit Forecasted for Global Tourism by the End of 2020
According to research data gathered by StockApps.com, the Global Tourism number is expected to dive down by 58% to 78%, resulting in a tourism export loss of $910 billion to $1.2 trillion in the year 2020.
Furthermore, according to a report received by the United Nations Conference on Trade and Development (UNCTAD), it stated that the tourism industry’s hardships will cause a loss of 1.5% to 2.8% which would result in a loss of $1.17 trillion to $2.22 trillion within the global economy. Tourism is the 3rd largest export sector globally, and 30% of its income accounts for many small island developing states (SIDS).
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