WTTC: France to keep its crown as most popular destination for international visitors

Latest flight booking data from the World Travel & Tourism Council (WTTC) and its knowledge partner ForwardKeys, shows France is set to keep its pole position as the world’s most popular destination for international arrivals this year. The research reveals a positive outlook for France’s inbound travel, with arrivals set to almost reach pre-pandemic highs […]

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UN report underscores importance of Tourism for economic recovery in 2022

The important role that tourism will play in the recovery of national economies and global trade has been highlighted in the 2022 edition of the World Economic Situation and Prospects (WESP) report by the United Nations. Drawing on data from the World Tourism Organization (UNWTO), WESP underlines the sector’s importance for the world economy and […]

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The Global Wellness Economy stands at $4.4 trillion amidst the disruptions of Covid-19|Forecast about $7 rrillion by 2025

The nonprofit Global Wellness Institute (GWI) today unveiled its much-anticipated research report, “The Global Wellness Economy: Looking Beyond Covid”, which provides new global market data on the overall wellness economy and for each of its eleven sectors. The 100-page report answers the big questions: How did the shock of COVID-19 impact the wellness industry? Which […]

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Almost 180,000 UK Travel & Tourism jobs could be lost if restrictions return, warns WTTC

Up to 180,000 jobs could be lost across the UK Travel & Tourism sector this year, if travel restrictions are reimposed this winter, according to alarming new data from the World Travel & Tourism Council (WTTC). WTTC, which represents the global private Travel & Tourism sector, made the warning after an analysis which showed the […]

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GlobalData: Indian tourists will be some of the most desirable travellers

Indian tourists will be some of the most desirable travellers, given India’s growing economy, young population and rising middle class, according to GlobalData. The leading data and analytics company notes that the country is projected to reach record levels of 29 million outbound trips by 2025 – a buoyant outlook considering the strains of COVID-19. […]

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UNWTO: Global economy could lose over $4 trillion due to COVID-19 impact on tourism

The “crash” in international tourism due to the coronavirus pandemic could cause a loss of more than $4 trillion to the global GDP for the years 2020 and 2021, according to an UNCTAD report published on 30 June. The estimated loss has been caused by the pandemic’s direct impact on tourism and its ripple effect […]

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IMF: COVID-19 Crisis Poses Threat to Financial Stability

The COVID-19 pandemic has caused an unprecedented human and health crisis. The measures necessary to contain the virus have triggered an economic downturn. At this point, there is great uncertainty about its severity and length. The latest Global Financial Stability Report shows that the financial system has already felt a dramatic impact, and a further intensification of the crisis […]

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IMF: Fiscal Policies to Contain the Damage from COVID-19

In its recent publication, the IMF suggests the appropriate Fiscal Policies to contain and mitigate the damage from COVID-19. In times of pandemic, fiscal policy is key to save lives and protect people. Governments have to do whatever it takes. But they must make sure to keep the receipts. So far, countries have taken fiscal actions […]

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IATA: COVID-19 Puts Over Half of 2020 Passenger Revenues at Risk

The International Air Transport Association (IATA) released an updated analysis showing that the COVID-19 crisis will see airline passenger revenues drop by $314 billion in 2020, a 55% decline compared to 2019. On 24 March IATA estimated $252 billion in lost revenues (-44% vs. 2019) in a scenario with severe travel restrictions lasting three months. […]

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