U.S. maintains position as Biggest Travel & Tourism Market: WTTC

Continuing travel restrictions, unnecessary and crushing quarantines, caused to suffer the biggest collapse of the 10 largest Travel & Tourism markets.

The figures from WTTC, come from its 2021 Economic Impact Report (EIR), which lays bare the devastating impact of COVID-19 travel restrictions. The latest data from the WTTC shows the U.S. maintained its position as the largest global Travel & Tourism market, despite suffering a huge 41% fall in GDP last year.

China also kept its position as the second biggest Travel & Tourism Market, but experienced a harder GDP fall of 59.9% with Japan slightly improving its ranking – from fourth to third – shouldering a GDP fall nearly half that of China, of just 37%.

Meanwhile, the UK, which in 2019 ranked as the world’s fifth-biggest Travel & Tourism market, fell three places to number eight, sustaining a punishing GDP fall of 62.3%.

.Gloria Guevara, WTTC President & CEO, said: “With positive news from across Europe about the gradual reopening of borders we hope to see many more countries adopt a more risk-based approach. This will restore mobility safely through rapid testing and health and hygiene protocols in addition to the benefit of the vaccination rollout.

“The urgent need to restore international travel is starkly evident following the release of WTTC’s data which shows the global Travel & Tourism sector suffered disproportionately hard due to the pandemic.“Globally, countries experienced an average fall in GDP contribution of 49.1%, while the worldwide economy shrank by just 3.7% last year, showing how travel restrictions have dramatically reduced Travel & Tourism’s contribution to economies around the world.

“However, despite the travel restrictions designed to curb the spread of the pandemic, the U.S. and China maintained their respective positions as first and second-biggest Travel & tourism markets.“But both the U.S. and China suffered damaging falls in the sector’s contribution towards their respective GDPs, with the UK experiencing the most damaging collapse of the top 10 markets with a fall in GDP contribution of 62.3%.

“We believe this shows that understandable but misguided actions to curb COVID-19 with ineffective damaging travel restrictions such as quarantines, do more harm than good, and end up crushing the very economies they were designed to protect. “It is all the more damaging when we know that one in four new jobs created in 2019 was in Travel & Tourism, so the sector will be absolutely vital to powering the global economic recovery.

“As vaccine rollouts continue at pace and international travel gradually resumes, Travel & Tourism will again become a priority for governments around the world.“Countries such as Israel, the UK, and the U.S. have made great strides with vaccination programmes, inoculating more than half of their populations, showing there is reason to be optimistic about the future.

“But now is not the time to take our foot off the pedal; we have to press for travel to resume faster to recover the 62 million jobs lost last year and the many millions more which continue to hang in the balance.

“We believe that only countries that offer certainty and a clear protocol for travel will fully recover from the pandemic. Recovery can be achieved with a combination of rapid resting, mask-wearing, and enhanced health and hygiene measures to complement the vaccine rollout.

“Furthermore, PCR tests are too expensive and inconvenient and will not enable travel to resume, which is why WTTC and other industry bodies have called for governments around the world to accept the more affordable antigen tests. she added

WTTC’s 2021 Economic Impact Report (EIR) identified other leading global Travel & Tourism markets as suffering similar dramatic GDP falls.

Germany dropped one place from third to the fourth position, following a 46.9% drop in the sector’s contribution towards GDP. Meanwhile, Italy rose in one place from sixth to fifth, despite experiencing a 51% fall in GDP contribution. Notably, France, the world’s popular destination in terms of international visitor numbers, rose one position from seventh to sixth, despite its contribution to GDP falling by almost half (48.8%).

WTTC 2021 EIR research revealed the global Travel & Tourism sector suffered a loss of almost US$4.5 trillion in 2020 due to the impact of COVID-19, with nearly 62 million jobs lost, representing a drop of 18.5%, leaving just 272 million employed across the industry globally.

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