Loading ...Tourism in Arab World to Decline by $30.6B by End of April
SOURCE: EGYPT TODAY
CAIRO – 29 March 2020: The Arab Tourism Organization estimated the decline in the sector’s revenues at $30.6 billion in Arab countries by the end of April, if the pandemic is not controlled.
The damage includes domestic tourism whose revenues recorded $130.8 billion in 2019. The decline in Arab airlines’ revenues is estimated at $14.4 billion by the end of April as the losses of the aviation sector on a global scale is estimated at $400 billion.
The World Tourism Organization (UNWTO) speculates that the number of international tourists will decrease by 20-30 percent in 2020 compared to the previous year due to the coronavirus outbreak incurring a decline in international tourism revenues by $300-450 billion. That figure constitutes around one third of the international tourism revenues standing at $1.5 trillion.
According to Worldometer, there are 704,500 coronavirus cases around the globe with 33,519 deaths and 150,729 recovered cases.
On March 16, Prime Minister Mostafa Madbouly announced the suspension of aviation for 15 days starting March 19 which would cost the sector LE2.25 in losses. On March 24, he declared that aviation suspension will be extended for additional 15 days.