International tourism loses $320bn in 5M 2020

There has been a $320bn loss in international tourism receipts between January and May this year, according to the latest edition of the World Tourism Organization (UNWTO) World Tourism Barometer.

The enormous toll of the novel coronavirus (COVID-19) pandemic on international tourism has now become clear, translating into a fall of 300 million tourists and a 56% year-on-year drop in tourist arrivals. The figures, which cover the first five months of 2020, are more than three times the loss seen during the Global Economic Crisis of 2008.