Reuters
Vladivostok, Russia
The Association of Tour Operators in Russia revealed the losses of the Russian tourism sector in 2020 due to the emerging Corona virus crisis, which cast a shadow over the global economy.
The association said that sales of Russian tourism companies will decrease by 60% in 2020 compared to last year, and this means that sales of Russian companies active in the tourism sector will decline by 2.1 trillion rubles (about 29 billion dollars).
This comes despite the fact that Russia was ranked in the first three places among the G20 countries in terms of recovering domestic tourism, according to the Association.
The association said that the drop could have been greater due to the size of the crisis and the almost complete absence of inbound and outbound tourism, but due to domestic tourism and demand stimulus measures, up to 1.6 trillion rubles of sales were recovered.
The tourism and aviation sector is the most affected by the Coronavirus crisis, and according to data from the United Nations World Tourism Organization, the loss of the global tourism industry in the first ten months of 2020 amounted to $ 935 billion.
The organization indicated that international travel will decrease by the end of the year 2020 by 70% – 75%, while the losses of the aviation sector will reach about $ 1.1 trillion, noting that this will lead to economic losses of $ 2 trillion in global GDP.
Source: TASS
Related Post
