The Travel & Tourism sector faces a staggering 100 million jobs losses due to the COVID-19 pandemic, according to the World Travel & Tourism Council, WTTC. The startling figure, based on research from WTTC, has increased by over 30% in the last four weeks, indicating the sheer crisis affecting the sector.
The Falkland Islands Government, FIG, recently carried out a business survey in conjunction with the Chamber of Commerce that resulted in 283 responses.
World leaders on Thursday promised US$5 trillion to stave off global economic collapse from the coronavirus pandemic that has killed 21,000 people and shut down huge swathes of the globe.
Sydney-based consultancy CAPA Center for Aviation warned in a statement on Monday that most of the world's airlines will be bankrupt by the end of May. Airline carriers are suspending routes for March, April, and May, and a full grounding of fleets has yet to be ruled out as flight restrictions have been placed across the world, spurring a collapse in demand, due to the Covid-19 pandemic.