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COVID-19 and tourism: Assessing the economic consequences. Geneva, Switzerland: United Nations Conference on Trade and Development (UNCTAD).

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This paper looks at the economic effects on tourism from COVID-19 lockdown measures. It estimates both the direct and indirect costs of border shutdowns for 65 sectors across 65 countries and regions. Globally, losses in the most optimistic tourism reduction scenario are estimated to be $1.17 trillion USD, which comprises approximately 1.5% of global GDP. Furthermore, estimates of employment losses in the tourism sector range between 10% and 40% depending on the country and the severity of the shock. This paper also makes a case for government assistance to the tourism industry to lessen the blow.

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