The pandemic led to a 73% fall globally in international tourist arrivals in 2020, said the World Tourism Organization (UNWTO), adding that the drop has been even steeper in Asia-Pacific the decline is estimated over 80% for 2020.

This sudden fall has placed the sectors ability to drive sustainable development forward on hold, it was revealed during a meeting of the Asian Development Bank (ADB) and UNWTO on what the Covid-19 pandemics impact on global tourism means for development across the Asia-Pacific region.

The event was held as part of the World Trade Organizations Aid-for-Trade Stocktaking Event, the special session brought key sector representatives together to assess how the sector can be transformed to drive recovery and build sustainability.

The special event at WTO, moderated by Anna Fink, Economist at ADB, explored how aid-for-trade can be used to build greater sustainability and resilience in the tourism sector. Joining Matthias Helble Senior Economist at the Asian Development Bank and Zoritsa Urosevic Director of Institutional Relations and Partnerships at UNWTO were representatives from the governments of Azerbaijan and New Zealand, and Suzanne Becken, a tourism expert from Griffith University.

ADBs Matthias Helble shared that, according to latest ADB estimates, a full recovery for the sector is only expected by 2023 at the earliest. Promotion of domestic tourism, as well as the creation of travel bubbles that would allow travel to resume between certain destinations, were highlighted as potential strategies for driving recovery in the short-term. The introduction of vaccine passes could further accelerate recovery. However, these measures should only be temporary, and countries ultimately need to prepare for a full opening.

ADBs Matthias Helble stressed that a prolonged pandemic puts the survival of large parts of the tourism sector at risk. To help governments finance policy measures that facilitate targeted aid to households and firms most severely affected by the pandemic, ADB launched a $20 billion support package in April 2020.

By the end of 2020, ADB had committed $16.3 billion of this package in the form of grants, technical assistance, and loans to developing member governments and the private sector. At the same time, UNWTO has expanded on its support to Member States across the region, including through the launch of the UNWTO Tourism Recovery Technical Assistance Package, delivering expert support to destinations across the historic Silk Road.

For longer-term recovery, UNWTOs Zoritsa Urosevic stressed the importance of developing a new finance architecture to adopt and build innovative, low carbon, circular, safe, and inclusive business policies, and instruments for recovery.

At the same time, both ADB and UNWTO reiterated the importance of international cooperation and the harmonization of policies, both to restart international tourism and then to monitor and guide future growth to ensure the sector delivers on its potential to drive sustainable development. TradeArabia News Service

Copyright 2021 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an as is and as available basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.