Global change in travel and tourism revenue due to COVID-19 2019-2020

According to the Mobility Market Outlook on COVID-19, the global revenue for the travel and tourism industry will be an estimated 447.4 billion U.S. dollars in 2020 - a decrease of around 34.7 percent from the previous year. Additionally, this is significantly lower than the original 2020 forecast of around 712 billion dollars.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.

Forecasted change in revenue from the travel and tourism industry due to the coronavirus (COVID-19) pandemic worldwide from 2019 to 2020

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Source

Release date

March 2020

Region

Worldwide

Survey time period

2019 and 2020

Supplementary notes

Revenue figures for the travel and tourism industry are from the following segments: cruises, hotels, package holidays, and vacation rentals.
Because the amount of data about the impact of the novel Coronavirus on travel and tourism is very limited, the following assumptions need to be made in order to be able to quantify how the industry will be affected by this virus in 2020:
The epidemic will have a major impact on travel and tourism for six months.
The basis for the estimations was IATA’s forecast about the overall effect of COVID 19 on the flight industry (limited spread scenario).
The decreased demand for flights coincides with the reduced demand for leisure trips in general.

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