Intl. tourism could take $30-50 billion hit due to COVID-19: UNWTO

The international tourism industry could lose up to 30 to 50 U.S. dollars in 2020 estimated Madrid-based World Tourism Organization (UNWTO) on Friday as a result of the coronavirus disease (COVID-19) outbreak.

This is UNWTO's first assessment regarding the impact of the COVID-19 outbreak on the global tourism industry. Compared with the previously predicted positive growth of 3-4 percent in the international tourist arrivals in 2020, UNWTO said that arrivals were now projected to fall by one to three percent.

The organization expected the Asia and the Pacific region to be the worst-affected, with "an anticipated fall in arrivals of nine percent to 12 percent." However, it says that estimates for other regions are "currently premature in view of the rapidly evolving situation." For that reason, the UNWTO also added that "any estimate must be treated with caution and is likely to be updated."

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