The Asia-Pacific region saw the biggest decline in the travel and tourism sector’s contribution to GDP, according to a new study by the World Travel & Tourism Council.
GDP in the region fell 53.7%, compared with the global fall of 49.1%. International visitor spending declined by 74.4%, as many countries across the region closed their borders to inbound tourists.
The report also revealed the European travel and tourism sector suffered the second biggest economic collapse last year, dropping 51.4%.
“WTTC data has laid bare the devastating impact the pandemic has had on Travel & Tourism around the world, leaving economies battered, millions without jobs and many more fearing for their future,” Virginia Messina, senior vice president WTTC, said.
“Our annual Economic Trends Report shows just how much each region has suffered at the hands of the crushing travel restrictions brought in to control the spread of Covid-19.
“WTTC believes governments around the world should take advantage of their vaccine rollouts, which could significantly ease travel restrictions on travel, and help power the wider global economic recovery.”