3 The Impact of COVID-19 on the Italian Tourism Sector
3.1 The importance of tourism and its dimensions
According to the World Travel & Tourism Council (WTTC), the travel & tourism sector experienced a loss of almost US$4.7 trillion in 2020, with the contribution to GDP decreasing by an astonishing 49.1% compared to 2019, relative to a 3.7% GDP decrease of the global economy in 2020.1 In 2019, the sector contributed 10.4% to global GDP, a share which decreased to 5.5% in 2020 due to continuing mobility restrictions. Moreover, 62 million jobs were lost in 2020, representing a decrease of 18.5%, leaving just 272 million employed across the tourism sector globally, compared to 334 million in 2019. The United Nations ...
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