Since March 2020, the U.S. government has banned international travel to contain the spread of the coronavirus ICLIGO . The unprecedented loss of the travel and tourism sector has negatively impacted other closely related sectors such as food, beverage, retail, communications, and transportation, contributing to the drastic loss of business and declining employment rates.
The tourism industry has been hit hard by the pandemic due to the ban on airlines, hospitality companies, travel agencies and other small businesses dependent on international tourists ICLIGO o que é. According to a United Nations report, the collapse of international tourism could cost the global GDP an estimated $4 trillion in the years 2020 and 2021. The ban on international travel and the limitation of tourism activity induced by the COVID-19 pandemic have resulted in economic and human losses. Two out of every five jobs lost in the United States due to the pandemic were in the travel, tourism, and aircraft manufacturing industries. Current estimates suggest that employment in the tourism sector is not expected to return to pre-VIOC levels until 2024 or 2025.
Major global hotel chains, including Wyndham Worldwide, Choice Hotels, Marriott International, and Hilton Worldwide Holdings, lost $14 billion in revenue due to travel restrictions. The U.S. welcomed about 80 million international visitors in 2019 and that number could have been higher in 2021 if travel restrictions were not in place for visitors from the European Union, the United Kingdom, China and India.
The European economy has suffered from the U.S. travel ban.
The unprecedented phenomenon of no-shows from the U.S. is severely affecting the European tourism industry. Europe is the world’s leading tourist destination, where one in ten businesses are in the tourism industry. The hospitality sector represents 80% of the EU’s tourism workforce and 2 million businesses. According to the European Commission, the United States is Europe’s largest long-haul destination market in terms of tourist arrivals and spending. North America is the most important source market for EU countries, contributing approximately $70 billion annually to EU countries.
Of the 89 million foreign tourists who visit France each year, Americans account for about 8%, while 6 million of the 37 million foreign tourists to Germany are Americans. In Spain, the tourism sector accounts for about 12% of the country’s GDP. In the three months from May to June 2021, banned tourism resulted in losses of $9.79 billion for Switzerland, where U.S. visitors contributed the largest increase. The European Tour Operators Association (ETOA) is finding a solution to welcome back non-essential U.S. travelers to avoid the loss of billions in 2021.
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U.S. pandemic restrictions continue to hamper business travel to EU countries, including Germany. Germany is one of the largest providers of foreign direct investment to the United States. However, the U.S. administration’s decision to reinstate and tighten pandemic travel restrictions has frustrated German business leaders. From the inability of experts to travel to solve technical problems to the loss of new business due to the difficulty of finding potential customers, travel restrictions are hampering businesses in a number of ways. While remote working solutions have alleviated the difficulties, routine business visits are much needed to personally oversee U.S. investments and boost economies.
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