USD 1 Trillion Deficit Forecasted for Global Tourism by the End of 2020

11th November, 2020 News and Updates

According to research data gathered by, 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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