WTTC: Pre-pandemic trading not beyond reach by early 2023
James ChappleThe global travel and tourism sector could recover to pre-pandemic levels by 2023 – perhaps even early 2023 – according to the World Travel and Tourism Council (WTTC).
New research by the council suggests the sector’s contribution to the global economy could reach $8.6 trillion (£6.3 trillion) by the end of the year, just 6.4% behind pre-pandemic levels.
In 2019, the sector generated $9.2 billion (£6.8 trillion) for the global economy. This was almost halved to $4.7 trillion (£3.5 trillion) in 2020 when Covid halted travel globally.
The WTTC, though, believes there are several factors that could accelerate already evident signs of recovery and propel the sector back to where it was before the pandemic struck.
These include maintaining the pace of the global vaccine rollout and removing "patchwork" travel restrictions and other barriers to travel for fully vaccinated individuals, such as testing.
If the vaccine and booster rollout continues "at pace" this year, and restrictions on international travel are eased accordingly, the sector could create 58 million jobs this year, boosting the global travel and tourism workforce to in excess of 330 million – within 1% of pre-pandemic levels.
Julia Simpson, WTTC president and chief executive, said 2022 was poised to be a year of strong recovery "if governments continue to open up and remove restrictions to travel".
“Over the past two years, the global travel and tourism sector has suffered tremendous losses," said Simpson. "As people start travelling again, governments must implement simplified rules, including the use of digital solutions. Travel of the future should be contactless while guaranteeing safety.”
The WTTC has called for a renewed focus on ensuring fully vaccinated individuals can travel without the need for testing by scrapping restrictions in favour digital tools allowing people to prove their Covid status quickly and securely.
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