The World Tourism Organization conducted an analysis of the global situation in light of the spread of the new Corona virus, to know its impact on the global tourism sector. Supply and demand for travel
1- The organization estimated that the number of international tourists may decrease by 1% to 3% during the current year 2020 around the world.
2- This decrease leads to a loss estimated at between 30 to 50 billion USD.
3- These figures came in comparison to the SARS scenario that spread in 2002/2003 and its impact.
4- The Asia-Pacific region is the region worst affected by the decrease in the number of tourists by 9% to 12% in 2020 compared to an expected growth from 5% to 6% in early January.
5- The biggest impact will be on small and medium-sized companies that may go bankrupt.
6- The current phase is similar to the year 2003 during the SARS epidemic, the Iraq war in 1991, the eleventh of September 2001, and the global economic and financial crisis in 2009.
7- The most prominent high-impact market is China, the world’s leading spending market, as well as other major Asian markets and European destinations such as Italy.
8- The restrictions imposed on travel and the cancellation or reduction of flights have resulted in a significant decrease in the provision of travel services (domestic and international).
