Poor countries could lose $1.4 trillion from tourism's collapse this year. Blame vaccine inequality
CNN
The collapse in international tourism due to the coronavirus pandemic could cost the global economy as much as $2.4 trillion this year, as the uneven rollout of vaccines devastates developing countries that are highly dependent on overseas visitors.
In a report published Wednesday, the United Nations Conference on Trade and Development (UNCTAD) said that even with more of the world's population vaccinated, the economic impact of the pandemic on tourism is turning out to be more severe than its worst-case predictions 12 months ago. The study highlights how costly vaccine inequality will be for the world economy, with tourism losses this year alone amounting to between $1.7 trillion and $2.4 trillion despite an expected rebound in travel in countries such as France, Germany, the United Kingdom and the United States.
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