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WTTC: 50 Percent Increase in Jobs at Risk in Travel and Tourism

Up to 75 million jobs are at immediate risk in global travel and tourism due to the coronavirus pandemic, according to the World Travel & Tourism Council (WTTC).

The alarming figure, based on research from WTTC, shows a punishing travel and tourism GDP loss to the world economy of up to USD2,1 trillion this year.

The latest projection of a 50 percent increase in jobs at risk, in less than two weeks, represents a significant and worrying trend, with an astounding one million jobs being lost every day in the travel and tourism sector, due to the sweeping effect of the coronavirus pandemic.

The analysis by WTTC, which represents the global travel and tourism private sector, also exposes the depth of the crisis for individual regions. Asia-Pacific is expected to be most heavily impacted with up to 49 million jobs at risk throughout the region, representing a loss of nearly USD800 billion to travel and tourism GDP.

The latest figures also suggest that in Europe, up to 10 million jobs in travel and tourism are at risk, totalling a loss of nearly USD552 billion.

The Americas are also expected to be hit hard by this crisis, with the US, Canada and Mexico expected to lose up to USD570 billion combined, with nearly seven million jobs in travel and tourism at risk. Other countries expected to be hit hard by this crisis include Brazil, the United Kingdom, Italy, Germany, France, Japan, Indonesia and India.