Over $300 Billion Lost in Exports From Tourism Due to COVID-19 Travel Restrictions

Over $300 billion has been lost globally in exports from international tourism, meaning spending by international tourists, following travel restrictions put in place to mitigate the spread of COVID-19, according to a new report.

Published by the United Nations World Tourism Organization (UNWTO), the report states that around the world there were 56 percent fewer international tourists from January to May, compared to the same period last year. The decrease in international travel caused a loss of $320 billion in exports from tourism, or three times more than what was...