The global tourism industry might face a drop of $8.1 trillion in spending as a result of the Covid-19 pandemic, a new report from global consultancy McKinsey said.The world's tourism industry is also unlikely to see the same level of spending achieved last year until 2024, the consultancy said.
“Our tourism recovery model forecasts a cumulative drop of $3tn to $8tn before tourism expenditure returns to pre-Covid-19 levels,” the McKinsey report said. “Recovery will be slow and driven by the underlying dependencies countries had on domestic and non-air travel. Different countries should prepare for their own recovery curves.”
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