- ECONOMIC IMPACT -
Latest update: 18 November
The virus has now spread to 191 countries with around 55 million confirmed cases and more than 1.3 million deaths.
The European Commission estimates that the Euro Area economy will contract by 7.8% in 2020, before recovering to 4.2% in 2021 and 3% in 2022. (5 November)
IMF has revised its 2020 global GDP forecast to -4.4% from an estimate of -4.9% made in June.
US real GDP grew by an annualised 33.1% in Q3 2020, according to the US Commerce Department. (29 October)
Impact of Covid-19 on TraveL and Tourism Recruitment
- SECTOR IMPACT: TRAVEL AND TOURISM -
Latest update: 2 December
International Travel impact
174 million jobs in the travel and tourism sector will be impacted by Covid-19, according to World Travel & Tourism Council. (29 October)
On 30 November, Qantas announced the loss of 2,000 jobs, on top of 6,000 roles already announced earlier in the year.
The entry of foreign nationals from India, France, Britain, Belgium, Bangladesh and Philippines to China has been banned temporarily. (5 November). Meanwhile, Japan has removed the entry ban for eight countries and added two new countries to the banned list from 30 November onwards. (5 November)
Brazil’s land and maritime border closures extended until 12 Dec (14 November) while in Spain, travellers from high-risk countries must produce negative Covid-19 test results and follow government directives from 23 November onwards. (11 November)
Campania and Tuscany added under high-risk red zones and imposed strict lockdown restrictions. (14 November)
Key Travel and Tourism Market Developments