With 1 Trillion Dollar losses, 100
A million jobs at risk the travel industry is facing a serious problem.
Globally Business Travel stood at $1.3tn and leisure travel was approximately $4.7tn in 2019, but the pandemic has hit so badly that it seems impossible for the industry to recover completely until the vaccine is administered globally and travel confidence returns. I don’t see anything substantial happening before the end of 2021 beginning of 2022.
However, considering 1 trillion losses to the industry there is still around $5tn travel business out there that is yet to be put into the travel economy.