UN file: Pandemic set to can charge world tourism $2 trillion in lost profits in 2021
a brand new United nations report warns that global tourism will see most effective modest profits features in 2021 after final year's ancient losses amid the COVID-19 pandemic. Why it matters: Tourism revenues in 2020 fell by using greater than half from the previous year — a big blow to the global financial system, in keeping with analysis through the UN World Tourism company (UNWTO). stay on suitable of the newest market trends and economic insights with Axios Markets. Subscribe at no cost through the numbers: The UNWTO estimates 2021 global tourism earnings will volume to $1.9 trillion — a modest bump from 2020's low of $1.6 trillion. before the pandemic, 2019's global tourism revenue clocked in at $three.5 trillion, or 4% of world GPD. The UN finds the drop in tourism is liable for 70% of the full drop in world GPD remaining yr. In all, the pandemic will proba bly charge the international tourism sector $2 trillion in lost profits in 2021, in response to the UNWTO. W...