France announced measures worth €18 billion (US$19 billion) to support its tourism sector, which has been hammered by the COVID-19 crisis and resulting shutdown in beaches, leisure attractions, and hotels.
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.
Every so often, industries become disrupted by an innovative idea or different approach to providing services in order to match customer demand. We have seen how Uber changed the landscape for the taxi industry, using a model that offers a quick and easy solution to booking a local taxi via an app and signing up self-employed drivers.
A no-deal Brexit would be “a disaster” for Spain, the country’s UK tourism chief has warned. Javier Pinanes, director of Spain’s tourist office in London, acknowledged that travel disruption caused by the UK and the European Union failing to negotiate an agreement would be “a really big problem”.
According to the World Tourism Organization (UNWTO)’s latest barometer, international tourist arrivals grew 6% in the first six months of 2018 after a record year of growth in 2017. All world regions enjoyed robust growth in tourist arrivals in January-June 2018. The increase was fueled by strong demand from major source markets, supported by an upswing in the global economy. It comes after record year-round growth of 7% in 2017.
Spending by foreign tourists in Britain is set to rise 34% to over 27 billion pounds (46 billion dollars) a year by 2017, according to research published on Friday, boosting the country's retail and leisure industries.
The travel and tourism industry is one of the largest and most dynamic industries in today’s global economy expected to generate about 9% of total GDP and provide for more than 235 million jobs in 2010 representing 8% of global employment.