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Covid-19 torpedoes tourism, 47 billion in lost revenue forThailand

Bangkok (AsiaNews / Agencies) – The new coronavirus pandemic is destined to cause huge losses to the tourism industry globally, with estimates at around 3300 billion dollars.

A recently published international study drawn up by experts from the United Nations reveals Thailand will be among the most affected countries with total damages of up to 47 billion dollars.

The report, prepared by the United Nations Conference on Trade and Development (Unctad) and titled “Covid-19 and tourism”, is based on three different scenarios for the sector: namely widespread closures and lockdown measures that are prolonged for four, eight and 12 months.

In such a scenario, revenues could drop by $ 1170 billion respectively; 2220 billion dollars and 3300 billion dollars. At the level of global gross domestic product (GDP) for tourism, there is a decrease varying between 1.5 and 4.2% of the total. The study does not specify which of these three scenarios may be the most likely, although Unctad experts predict that the middle one would be viewed “as most realistic”.

“International tourism has been almost totally suspended, and domestic tourism curtailed by lockdown conditions imposed in many countries,” the report said. “Although some destinations have started slowly to open up, many are afraid of international travel or cannot afford it due to the economic crisis.”

For UN experts, Thailand (like France) is expected to suffer losses of around $ 47 billion. The nation destined to lose the most is the United States with a drop of 187 billion dollars, followed by China with 105 billion (provided that the restrictions last “only” four months, and are not extended).

Full Story: AsiaNews