Visual Capitalist has shown just how badly the tourism shutdown can impact the global economy.
Visual Capitalist has complied infographic showing the extent of the impact that the Covid-19 pandemic has had the global tourism industry, which reportedly supports a total of 330 million jobs around the world and contributes 10 percent or $8.9 trillion (approximately R163 trillion) to global GDP each year.
The infographic, shown below, uses data from the World Travel & Tourism Council and highlights the countries that are most dependant on the travel and tourism industry based on the share on total employment contributed by their travel and tourism sectors. This shows exactly how important tourism is for the sustainability and growth of the global economy.
According to the article, 44 countries rely on the travel and tourism industry for more than 15 percent of their total share of employment. Unsurprisingly, many of the countries suffering the most economic damage are island nations. Meanwhile, some countries are almost entirely reliant on Tourism with, Cambodia seeing a massive to 2.4 million jobs being generated by the travel and tourism industry. In Croatia, travel and tourism provides 25 percent of the jobs.
This shows just how badly the tourism shutdown can impact the global economy, and perhaps points to the beginning of the end for many jobs more jobs as travel and tourism will be among the last sectors to recover from the Covid-19 pandemic.
