Europe’s Travel and Tourism Sector witnesses the biggest economic collapse last year, due to the pandemic

Thursday, July 8, 2021

After the Asia-Pacific, Europe’s Travel and Tourism Sector witnessed the biggest economic collapse last year, due to the corona virus situation, thereby marking a 51.4 per cent decline according to the recent annual Economic Trends Report conducted by the World Travel and Tourism Council (WTTC).

According to the Council, the damaging decrease was a result of restrictions imposed for restricting the further spread of the corona virus and its new strains.

The Economic Trends Report has shown that domestic spending in Europe marked a 48.4 per cent decrease, “offset by some intra-regional travel,” International spending also witnessed a significant decrease, by 63.8 per cent.
In spite of the figures provided by the WTTC, Europe remained the top global region regarding international visitor spending.

Travel and tourism employment in Europe suffered a 9.3 per cent decline, leaving a total of 3.6 million people engaged in this industry without jobs.

In its recent report, the WTTC has shown that the Asia-Pacific was the most affected region by the corona virus pandemic.

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