The World Travel and Tourism Council (WTTC) has revealed the collapse of the UK’s travel and tourism sector. This led to a loss of £148 billion for the UK economy in 2020. The council’s annual Economic Impact Report showed that the travel and tourism GDP fell from £238 billion in 2019 to £90 billion the following year. This was accompanied by a loss of 307,000 jobs in the … [Read more...] about WTTC Reveals UK’S Tourism Sector Lost £148 Billion in 2020
Economy
New Zealand’s Tourism Economy Expected to Rise if Trans-Tasman Bubble Opens
Welcoming Australians back to Aotearoa could result in a billion-dollar boost to New Zealand's economy. This is if a trans -Tasman bubble opens in the coming weeks. That's the latest forecasting from Tourism New Zealand (TNZ) ahead of Tuesday's expected opening date announcement. TNZ interim chief executive René de Monchy said it would be very welcome news after a tough … [Read more...] about New Zealand’s Tourism Economy Expected to Rise if Trans-Tasman Bubble Opens
German Factories Thrived During Lockdown, Tourism Future Still Bleak
Business morale in Germany is higher this month than it has been in almost two years. Rising demand for manufactured goods keeps factories in Europe’s largest economy humming despite the pandemic and lockdown restrictions. A survey showed on Friday. Demand for German Goods are High The Ifo institute said its business climate index shot up to 96.6, the highest reading since … [Read more...] about German Factories Thrived During Lockdown, Tourism Future Still Bleak
UK Economy Reopens, Prime Minister Boris Johnson Sets COVID-19 Testing Plans
Everyone in England will be urged to take a coronavirus test twice a week as a new system of Covid passports is assessed for wide-scale use. This is under Prime Minister Boris Johnson’s plan to reopen the UK economy after lockdown. UK Economy Set to Reopen Free test kits will be made available through local pharmacies, community centers, and home delivery services. The new … [Read more...] about UK Economy Reopens, Prime Minister Boris Johnson Sets COVID-19 Testing Plans
UK Economy Expected to Recover After COVID-19 Second Wave
Online sales boomed during the lockdown, helping the UK economy. However, the forced closure of high street stores damaged the retail sector overall. The total volume of retail sales has recovered close to pre-pandemic levels. This is after falling by the most on record during the first wave. Supermarket sales have surged with pubs and restaurants closed and people … [Read more...] about UK Economy Expected to Recover After COVID-19 Second Wave