From an international perspective, by the end of this year, the tourism industry will plummet by 60-80%. The United Nations World Tourism Organization made this prediction in its latest report. This broad and possibly conservative forecast will extend to the unemployment of millions of practitioners in the global tourism industry. In Thailand, tourism is an important contributor to GDP, and total tourism revenue this year will drop by more than 90%.
The loss of the global tourism industry will account for US$850 million to US$1.1 billion in global tourism consumption by international tourists, and will permanently lose 100 to 120 million tourism jobs.
International tourism is increasingly becoming one of the main engines of the global economy, accounting for about 7% of total international trade. It has witnessed the corresponding growth of the aviation industry and has also been restrained by the decline in tourism. Tourism also creates direct and indirect employment opportunities, accounting for one-tenth of all employment opportunities in the world. In many countries, including Thailand, this large industry that plays an important role in many countries has been affected.
The United Nations World Tourism Organization (UNWTO) and the Organization for Economic Cooperation and Development (OECD) jointly stated that this is the most serious crisis faced by the international tourism industry since its records in 1950.
"The tourism industry is one of the sectors that has been hit hardest by health measures to control the spread of Covid-19. The expansion of travel restrictions and the worsening of the international financial crisis also threaten the international tourism industry and may become the last industry to recover."
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