World Travel & Tourism Council (WTTC) research reveals that even an increase of just one million more international arrivals into Europe could generate an extra $0.48 billion in GDP. It could also bring significant economic and job benefits.
This would help boost economies struggling to survive through the travel restrictions due to the spread of coronavirus. Many governments, including the UK government and those who are under immense pressure, are considering ‘travel corridors,’ to welcome holidaymakers and prevent the tourism sector from falling.
For every 1% increase in international arrivals, about $7.23 billion in additional GDP would be generated
An increase of 100 million international arrivals – equivalent to an increase of 6.7% – 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 prioritizing and protecting the health of travelers 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 program.”