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Global travelling costs for travelling can be huge

Global travelling costs for travelling can be huge

A study called "Covid-19 and Tourism" presented from three scenarios. Ongoing restrictions are calculated after four months, after eight months and after 12 months. Global tourism revenues may fall by as much as $ 3.3 trillion, or up 4.2 per cent of world gross domestic product (GDP), due to COVID-19-related restrictions. This emerges from a study published by the United Nations Conference on Trade and Development (UNCTAD).

Of the three destinations, the United States will suffer the biggest losses in all three scenarios. In the mildest scenario, a four-month closure, revenue will decline by $ 187 billion. The second will be China with a drop of 105 billion USD. Thailand and France will lose about $ 47 billion. In proportion to the size of its economy, Jamaica will suffer heavy losses, threatening to reduce GDP by up to 11 per cent in the mildest scenario, followed by Thailand and Croatia.

In the worst-case scenario, the US would lose up to $ 538 billion. This corresponds to three per cent of GDP.