IATA estimates

trevi fountain

Can International Tourism Ever Recover?

James Reilly (Schroeders)| The current coronavirus crisis appears to be a rather potent cocktail of all three of these events: a viral epidemic more widespread than SARS, an economic downturn sharper than the GFC, and a fear of flying comparable to the aftermath of 9/11. This points to a trough far greater than the 45% downturn in international travel seen nine months into the GFC.

airlines rescue

Airlines Seeking Rescue: Each Aviation Job Saved Would Keep 24 More People Employed In Its Supply Chains

The International Air Transport Association (IATA) estimates that losses to the passenger air transport sector will total $314 billion in 2020, due to the impact of the coronavirus crisis. Given this impact on the aviation sector and its consequences on tourism worldwide, IATA has called on governments to include the aviation industry in the aid packages for the pandemic.