New Delhi: The United States economy is estimated to have suffered a loss of about $155 billion from the international tourists and visitors in the Corona pandemic. The USA has reported a drastic fall in the tourism and travelling sector during the period.
The World Travel & Tourism Council (WTTC) in a report said, “The massive decline in the number of international travellers and tourists visiting the U.S due to the COVID-19 Pandemic could result in international visitor spending dropping by a staggering 79%.”
According to statistics, the American economy lost $425 million a day, $3 billion a week and nearly 12.1 million jobs in the U.S. supported by Travel & Tourism are at risk of being lost in a ‘worst case’ scenario mapped out by WTTC economic modeling.
The WTTC and its members recently called upon President Donald Trump and the other leaders of the G7 countries, urging for a coordinated approach in leading the recovery response to the crisis.
WTTC’s 2020 Economic Impact Report says, during 2019, Travel & Tourism was responsible for 16.8 million jobs in the US, or 10.7% of the country’s total workforce. It also generated $1.8 trillion, or 9% to the American economy.
WTTC President and CEO Gloria Guevara said, “The economic pain and suffering caused to millions of households across the U.S, who are dependent upon Travel & Tourism for their livelihoods, is evident from our latest shocking figures. The lack of international visitors to the US due to the pandemic could wipe out more than $155 billion from the US economy alone – a loss of $425 million a day – from which it may take years to recover. It could also threaten New York’s position as one of the world’s premier hubs for business and leisure travel.
“International coordination to re-establish transatlantic travel would provide a boost for the Travel & Tourism sector. It would benefit airlines and hotels, travel agents and tour operators and revitalise the millions of jobs in the supply chain which are dependent upon international travel across the Atlantic.” Guevara added.
Data from 2018 shows how New York City is particularly dependent on international visitors. It accounted for 45% of all tourism spending in the city, with domestic tourists making up the remaining 55%.
_Vinayak
