The COVID-19 pandemic has hit hard investments in the tourism sector. Announced foreign investment in the tourism sector fell from USD 48.5 billion in 2019 to USD 12.6 billion in 2020. This represents foreign direct investment (FDI) into tourism plummeted by 73.2% in the first half of 2020, compared with the same period in 2019. The drop in the tourism sector is among the highest, especially when comparing with the global FDI that collapsed by 35% in 2020. As a result, the sector has lost USD 1.3 trillion in export revenues in 2020 which suggests around 100 million to 120 million direct tourism jobs at risk with an estimated loss of over USD 2.5 trillion in global GDP.

The World Tourism Organization (UNWTO) and World Association of Investment Promotion Agencies (WAIPA) hence joined forces to develop this report outlining the key trends in the tourism industry and strategies to safeguard tourism investments during these unprecedented times that can contribute to the industry resilience and future recovery.

The report is available for free only to WAIPA members.  If you are a member, please contact us via below form and we will send you the free copy of the report. To become WAIPA member, please apply HERE. To buy the publication, please click HERE.

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