When will global tourism resume in 2020?

With the gradual improvement of the world economy and people's lives, tourism has become an important way to relax in many people's lives, and many industrial chains have been derived. Many countries rely on tourism for development. After the outbreak of COVID-19 in 2020, the global tourism industry ushered in a cold winter, and many people are asking when the tourism industry can really recover.

When will the global tourism industry recover?

Economics said in a latest research report that as long as the epidemic can be effectively controlled in the first half of this year, tourism will gradually recover in July this year. 202 1 can be fully recovered by 2022.

Moreover, because people are forced to stay at home, there may be retaliatory growth in tourism in the future. According to the data released by the travel website Campsites.co.uk, the search volume of its website increased by 18% in February, while it increased by nearly 30% in the first week of March.

With the increasingly serious epidemic situation in various countries, more and more countries restrict entry and exit, and tourism has become the most affected industry.

In particular, the economic situation of some countries that used to focus on tourism is even more worrying. For example, in some Southeast Asian countries such as Laos and Thailand, the proportion of tourism in the total economic output exceeds 12%. But now, Bangkok's tourist attractions, food markets and temples are empty. The Vietnamese government even warned not long ago that by April, the epidemic would cause a loss of $5.9 billion to $7.7 billion to the country's tourism industry.

According to the GlobalBusinessTravel Association (GlobalBusiness Travel)

Association) estimates that if countries continue to restrict travel, global tourists and companies may reduce their travel expenses by more than 37%, resulting in a monthly loss of $46.6 billion and an annual loss of nearly $560 billion.

The Impact of Epidemics on Tourism: Zurab Polica Shvili, Secretary General of the United Nations World Tourism Organization

Pololikashvili) pointed out that the decrease in the number of tourists will cause economic losses to the whole tourism industry, and pointed out: "Small and medium-sized enterprises account for about 80% of the tourism industry, especially millions of people around the world, including disadvantaged groups, rely on tourism."

However, UNWTO also pointed out that this sector has shown "high flexibility" in the past and can "rebound strongly", so it will play a key role in the future economic recovery.

It also called for financial and political support for tourism recovery measures, and the support for this sector should be integrated into the broader recovery plans and actions of the affected economies.

Two weeks ago, the aviation index of the New York Stock Exchange plummeted by 30%, more than twice as much as the Dow Jones Industrial Average, and the aviation industry became the hardest hit.

According to the latest data released by the International Air Transport Association (IATA) on March 4th, the monthly growth rate of global airlines was the lowest in June this year since 20 10. Compared with June of 20 19, the flight demand only increased by 2.4%.

In addition, COVID-19 will lead to a decline in global air travel demand this year, which is the first overall contraction since the last financial crisis. IATA predicts that global demand will shrink by 4.7% in 2020, which means that airline revenue will drop by $29.3 billion.

Some airlines even closed down because of this. For example, British low-cost airline Flybe declared bankruptcy on March 5, local time, stopped all trading business and grounded all flights.