The impact of COVID-19 on the international tourism industry in 2020 and 2021 will lead to more than $4 trillion in global economic losses, involving tourism and other closely related industries, according to a report from the United Nations Conference on Trade and Development (UNCTAD) and United Nations World Tourism Organization (UNWTO) published on Wednesday.

The international tourism industry and its closely related industries suffered an estimated $2.4 trillion loss in 2020 due to a sharp decline in the number of international visitors. Similar losses are likely to occur this year, with projected losses between $1.7 trillion and $2.4 trillion in 2021 compared to 2019, and a rebound in international tourism in the second half of the year.

The report noted that the loss of tourism has led to an average rise of 5.5 percent in the unemployment rate among the unskilled workforce, and that the recovery in tourism will depend largely on the use of COVID-19 vaccines around the world.

As vaccination rates are uneven, with less than 1 percent of the population vaccinated in some countries and more than 60 percent elsewhere, the report notes that tourist losses are greater in developing countries. Some countries with high vaccination rates will see a faster recovery in tourism.

According to the UNWTO, industry experts do not expect to return to usual crowds before 2023, or even later. The most affected regions are Northeast Asia, Southeast Asia, Oceania, North Africa and South Asia, while the least affected regions are North America, Western Europe and the Caribbean.