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New research from the World Travel & Tourism Council (WTTC) shows even a modest increase of just one million more international arrivals into Europe could generate an extra $0.48 billion in GDP.
This would provide a massive and much-needed economic boost for economies struggling to survive following the imposition of travel restrictions to combat the spread of coronavirus.
Many governments are evaluating reciprocal ‘travel corridors,’ including the UK government and those in Europe which are under immense pressure, to enable holidaymakers to take summer holidays and prevent the collapse of the tourism sector.
WTTC, which represents the global tourism private sector, has carried out an analysis which shows even relatively minor increases in travelling would bring significant economic and job benefits.
For every one per cent increase in international arrivals, some $7.23 billion in additional GDP would be generated.
So, an increase of 100 million international arrivals – equivalent to an increase of 6.7 per cent – would result in around $48 billion in additional GDP.
Gloria Guevara, WTTC president, said: “We know restarting the tourism sector is a huge challenge, but the economy can be restarted while also prioritising and protecting the health of travellers and those who work in the sector.
“It is vital that governments ensure that the right measures are in place, such as protocols and a comprehensive testing and tracing programme.
“However, WTTC research makes it clear that even a modest resumption of travelling can have massive economic benefits and bring thousands of desperately needed jobs back; providing a critical boost for the struggling tourism sector and generating desperately needed GDP for economies left floundering after being struck by the pandemic.”
She added: “It’s often said ‘a little goes a long way’; now our figures prove it.
“For every additional one million international arrivals from outside Europe would be able to generate nearly half a billion extra dollars in GDP.”
Source: breakingtravelnews.com