A new analysis carried out by WTTC shows that even relatively minor increases in travelling would bring significant economic and job benefits. EU economies struggling to survive following the imposition of travel restrictions to combat the spread of coronavirus could be boost by a modest increase of just one million more international arrivals into Europe which could generate an extra $0.48 billion in GDP, reads the new research from the World Travel & Tourism Council.
Many governments are evaluating reciprocal ‘travel corridors, including the UK government and those in Europe which are under immense pressure, to enable holidaymakers to take summer holidays and prevent the collapse of the Travel & Tourism sector.
For every 1% increase in international arrivals*, a massive $7.23 billion in additional GDP would be generated. So, an increase of 100 million international arrivals – equivalent to an increase of 6.7% – would result in around $48 billion in additional GDP.
Gloria Guevara, WTTC President & CEO, said: “We know restarting the Travel & Tourism sector is a huge challenge, but the economy can be restarted while also prioritising and protecting the health of travellers and those who work in the sector. “It is vital that governments ensure that the right measures are in place, such as protocols and a comprehensive testing and tracing programme. However, WTTC research makes it clear that even a modest resumption of travelling can have massive economic benefits and bring thousands of desperately needed jobs back; providing a critical boost for the struggling Travel & Tourism sector and generating desperately needed GDP for economies left floundering after being struck by the pandemic”.
“It’s often said ‘a little goes a long way’; now our figures prove it. Every additional one million international arrivals from outside Europe would be able to generate nearly half a billion extra dollars in GDP.
“We encourage governments to do all that they can to ease the lockdowns and travel restrictions to allow the resumption of responsible travelling. Guided by WTTC’s Safe and Seamless Travel initiative, it should include testing and tracing, consistent with advice from WHO and local health authorities.
“Together, we can control and reduce the spread of COVID-19 and at the same time protect public health and bring confidence back to travellers and to the wider travel sector.”
WTTC has been at the forefront of leading the private sector in the drive to rebuild global consumer confidence and encourage the return of Safe Travels.
