Pandemic has affected tourism 18 times more than the 2008 financial crisis: WTTC

Cancun, Q.R. — The covid-19 pandemic has affected the tourism sector 18 times more than the financial crisis of 2008, says Gloria Guevara Manzo, CEO & President of the World Travel and Tourism Council (WTTC).

Manzo, who is the former Secretary of Tourism for Mexico, says for this reason, it necessary to direct the recovery of the sector, which employs 330 million people globally. She adds that the Covid-19 pandemic has eliminated 62 million jobs in the sector. The figures were presented over the weekend at the WTTC global summit being held in Cancun, which was also attended by state governor Carlos Joaquin.

During the first days of the summit she said “62 million jobs were lost. The impact of Covid in the travel and tourism sector had an impact 18 times stronger than the impact of the global financial crisis that occurred in 2008. This is why the event is so important, because it is the global platform for recovery.”

Regarding the meeting, Carlos Joaquin said “It is with pride that Cancun be the venue for this international meeting, the most important and the main forum for global tourism, as well as being the first major international face-to-face event with global leaders of the travel and tourism industry after months of the COVID-19 pandemic.”

He also said that the WTTC summit undoubtedly represents an opportunity to place Mexico in the center of attention of the international tourism community and is an important window of tourism promotion for all the state’s destinations.

“Tourism is currently facing its greatest challenge in history to overcome the adverse situation left in its wake by the health emergency caused by COVID-19. And this great challenge also requires a team effort, also unprecedented, that allows us to overcome adversity,” said Guevara Manzo.

More than 100 high-level international speakers and public sector leaders, led by 20 ministerial delegations from Saudi Arabia, Spain, Portugal, Greece, Panama and the Dominican Republic, among others, are in attendance.

The World Travel and Tourism Council (WTTC) and the National Conference of Governors (CONAGO) are meeting to strengthen ties of cooperation that will strengthen tourism, which, before the pandemic, represented 10.4 percent of world GDP.

Source: RMN