Tourism Economics predicts global travel demand won’t resume its normal pace until 2023.
Six months ago, the global tourism industry was celebrating a record year for travel. Now, it’s decimated and facing a recovery that could take years. Tourism Economics, a data and consulting firm, predicts global travel demand won’t resume its normal pace until 2023.
When tourists do finally return, they will face a changed landscape that incorporates social distancing and other measures to calm residual fears over COVID-19, the disease that has so far killed more than 244,000 people worldwide and infected millions more.
“It takes time to shake fear from the hearts of people, not to mention the economy,” said Mahmoud Hadhoud, founder of Egypt Knight Tours, who doesn’t expect foreign tourists to start trickling back into Egypt until September.
Millions of people who depend on tourism are laid off or furloughed. In the U.S. alone, an estimated 8 million tourism-related workers are jobless right now, or about one-third of total U.S. unemployment, said Roger Dow, the president and CEO of the U.S. Travel Association.
