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Tuesday, June 16,
2020 / 06:00 AM / by Proshare Content/ Header Image
Credit: EcoGraphics
Travel and tourism are among the most
affected sectors of the pandemic, with flights grounded, hotels closed, workers
have either lost their jobs or on furlough, and travel restrictions put in
place in virtually all countries around the world. Just as projected by the International Air
Transport Associations (IATA) in March 2020, coronavirus has seriously
disrupted the industry which has caused major losses.
Chart 29: Aviation
Revenues ($'bn) in the World
Source: UNWTO, Proshare Research
The
aviation industry recorded $830bn in revenues in 2019, globally commercial
airlines are expected to generate combined revenues of about $872bn the full
year 2020. With the increase in the infections, flights grounded, the IATA
projects that the virus will cause a loss of about $113 bn (see chart 28)
International Tourist Arrivals
Chart 30: International
Tourist Arrivals
COVID-19 pandemic has also cut international tourist arrivals in Africa,
the year-to-date performance of the African region shows a decline of -12%,
while in March alone it fell by -44%.
Source: UNWTO, Proshare Research
Table 14: Impact Estimates,
Selected African and Middle East Countries
Source: IATA, Proshare Research,
Ecographics
Some of the impacts of the virus include:
Illustration
7: SWOT Analysis: Challenges and Opportunity in Travels
and Tourism
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