COVID-19 brought the world to a standstill. It devastated the Travel & Tourism sector, leading to a GDP loss of nearly US$ 4.5 trillion and 62 million job losses in 2020. Capital investment in Travel & Tourism also fell significantly from US$ 986 billion in 2019 which amounted to 4.4% of total global investment to US$ 693 billion in 2020 and 3.2% of total investment, representing a 29.7% drop. As the sector looks to the recovery of international visitors and capital investment, it is essential to understand key trends, priorities, and related opportunities to unlock the full growth potential of the Travel and tourism sector in years to come.
As we build back better, sustainability and inclusion must be at the heart of a more resilient and competitive Travel and tourism sector. Achieving success will require the engagement of all stakeholders from the early stages of the planning process, ranging from developers, investors, legislators, and policymakers to community groups.
COVID-19 brought the world to a standstill. It devastated the Travel & Tourism sector, leading to a GDP loss of nearly US$ 4.5 trillion and 62 million job losses in 2020. Capital investment in Travel & Tourism also fell significantly from US$ 986 billion in 2019 which amounted to 4.4% of total global investment to US$ 693 billion in 2020 and 3.2% of total investment, representing a 29.7% drop. As the sector looks to the recovery of international visitors and capital investment, it is essential to understand key trends, priorities, and related opportunities to unlock the full growth potential of the Travel and tourism sector in years to come.
As we build back better, sustainability and inclusion must be at the heart of a more resilient and competitive Travel and tourism sector. Achieving success will require the engagement of all stakeholders from the early stages of the planning process, ranging from developers, investors, legislators, and policymakers to community groups.
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