News

How much will economies lose to tourism because of the pandemic?

Published

5 years ago

June 30, 2021

Costa Haritos

Tourism is expected to impact global economies.

A new report has revealed the economic costs from a plunge in tourism since the pandemic.

The UN World Tourism Organisation (UNWTO) has revealed COVID-19 could place a $4 trillion hole in the world’s economy.

The report found the pandemic’s impact will lead to a ripple effect on other sectors closely linked to it.

The UNWTO Secretary-General Zurab Pololikashvili says vaccinations are a key part of the world’s post-COVID success.

“Tourism is a lifeline for millions, and advancing vaccination to protect communities and support tourism’s safe restart is critical to the recovery of jobs and generation of much-needed resources, especially in developing countries, many of which are highly dependent on international tourism.”

The report assesses the economic impacts of three possible scenarios, which all reflect reductions in international arrivals.

Reduction in international travel

The first scenario reflects a 75 percent reduction in international tourist arrivals – the most pessimistic forecast. It is based on tourist reductions and trends faced last year.

For example, tourism makes up five percent of Turkey’s GDP. But the nation experienced a 69 percent fall in international tourists in 2020.

This fall is estimated to cost $33 billion, which has led to other cross-sector losses in hospitality, communications and transport.

In the second scenario, UNWTO examines a 63 percent reduction in tourist arrivals. Then, domestic and regional tourism is considered in the third scenario.

Vaccinations drive tourism

Experts are also concerned about the varying vaccination rates around the world, and how they will impact international travel.

The report discusses the “asymmetric roll-out of vaccines”, and how it “magnifies the economic blow tourism has suffered in developing countries”. Vaccine rates vary from 1 to 60 percent between some countries.

Isabelle Durant is the Acting Secretary-General of the UN Conference on Trade and Development (UNCTAD). She says the world needs to push for global vaccination.

“The world needs a global vaccination effort that will protect workers, mitigate adverse social effects and make strategic decisions regarding tourism, taking potential structural changes into account.”

Experts do not expect a return to pre-COVID travel until 2023, or later. They believe travel restrictions, slow containment of COVID-19, poor economic opportunities, and low traveller confidence are among the reasons for the delay.

Related Topics:covid covid-19 economic Economy Featured holiday travel

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Costa Haritos

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.

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News

Epstein hearing explodes over redactions and hidden names

Lawmakers accuse AG Pam Bondi of hiding Epstein-linked names amid congressional hearing, questioning redactions related to billionaire Wexner.

Published

6 hours ago

February 12, 2026

Harvey Vargas

Lawmakers accuse AG Pam Bondi of hiding Epstein-linked names amid congressional hearing, questioning redactions related to billionaire Wexner.

US lawmakers have accused Attorney General Pam Bondi of withholding key names linked to Jeffrey Epstein during a fiery congressional hearing. The confrontation centred on redactions within investigative files that critics argue should have been fully disclosed under federal law.

Representative Thomas Massie pressed the Justice Department over blacked-out sections, specifically questioning references to billionaire Leslie Wexner. Bondi maintained that Wexner’s name was released promptly once flagged, defending the department’s handling of the documents.

Frustration boiled over as lawmakers challenged the extent of the redactions, leading to an extraordinary moment in the hearing as Bondi pushed back and praised President Donald Trump while standing by the department’s review process.

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#EpsteinFiles #PamBondi #USPolitics #Congress #JeffreyEpstein #BreakingNews #PoliticalDrama #TickerNews

News

Angus Taylor moves to challenge Sussan Ley for party leadership

Angus Taylor resigns from Coalition frontbench to challenge Sussan Ley amid Liberal Party divisions and declining poll support.

Published

6 hours ago

February 12, 2026

Harvey Vargas

Angus Taylor resigns from Coalition frontbench to challenge Sussan Ley amid Liberal Party divisions and declining poll support.

Angus Taylor has resigned from the Coalition frontbench to launch a leadership challenge against Sussan Ley, declaring he lacks confidence in her ability to rebuild support for the Liberal Party. His move sets up a high-stakes internal contest that could reshape the party’s direction.

Supporters of Mr Taylor are expected to push for a meeting by Friday to trigger a potential leadership spill, intensifying pressure on Ms Ley. Moderate MPs are calling on her to demand clear proof of numbers before any ballot takes place.

With the Liberals trailing in the polls and facing mounting questions over strategy, both camps are outlining starkly different visions for the party’s future as tensions rise in Canberra.

#AustralianPolitics #LiberalParty #AngusTaylor #SussanLey #LeadershipSpill #Canberra #AusPol #PoliticalNews

News

Iran buries nuclear site entrances amid rising tensions with the U.S.

Published

23 hours ago

February 11, 2026

Harvey Vargas

Satellite images reveal that Iran has buried all three tunnel entrances at its Isfahan nuclear complex. Analysts say the move mirrors defensive preparations taken before U.S. airstrikes devastated the facility last year, with no vehicle or personnel activity visible around the entrances.

The burial appears aimed at limiting damage from potential airstrikes and complicating any ground raid targeting enriched uranium stored in the underground facility. Experts suggest equipment or materials may have been moved into the tunnels for protection, though this remains unconfirmed.

The fortification comes amid ongoing U.S.-Iran tensions. President Trump has demanded Iran curb its nuclear program, warning of military action, while Tehran insists halting uranium enrichment is unacceptable. Recent indirect talks in Oman showed little progress toward a new deal.