Blow To EU Tourism Industry Will Have Global Repercussions - EU Parliament Member
Fahad Shabbir (@FahadShabbir) Published March 26, 2020 | 07:44 PM
All southern EU member states, which predominantly rely on tourism for revenue, will bear the brunt of the crisis caused by the COVID-19 pandemic, which will not only negatively impact the European tourism industry but the world as a whole, Paolo Borchia, a member of the European Parliament, told Sputnik
MOSCOW (UrduPoint News / Sputnik - 26th March, 2020) All southern EU member states, which predominantly rely on tourism for revenue, will bear the brunt of the crisis caused by the COVID-19 pandemic, which will not only negatively impact the European tourism industry but the world as a whole, Paolo Borchia, a member of the European Parliament, told Sputnik.
"It must be borne in mind however that the 'blow' on the European tourism industry will have repercussions of equal magnitude at the global scale. It is not just European hotels and restaurants that may run out of business. Stopping people's movement to and from the European continent will impact the global airline industry to a similar degree, as well as non-European tour-operators and travel agencies," Borchia, who is also a member of the Committee on Transport and Tourism, and a member of the Committee on Industry, Research and Energy in the European Parliament, said.
Borchia added that all southern states in the European Union relied heavily on tourism, which is a key factor in their GDPs.
Italy, where tourism is a cornerstone of the economy, has already started to see COVID-19 seriously impact its tourism industry, Borchia said.
Tourism also plays "a fundamental role" in the other geographical groupings of the bloc, according to the parliamentarian.
"It is clear that we are racing against time [in the European Union], and the longer it takes to stop the pandemic, the higher the price all main economic sectors -- first and foremost tourism -- will have to pay," he said.
As the whole globe plunges deeper into crisis and isolation, Europe's tourism sector expects the number of visitors to plummet at unprecedented rates. In early March, chief of the European Commission's Internal Market Thierry Breton said that the EU tourism industry was due to suffer losses of roughly 1 billion Euros per month.
Related Topics
Recent Stories
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 27 April 2024
Today Gold Rate in Pakistan 27 April 2024
HEC reviews curricula for environmental sciences degree programme
ICC Asia looking forward to an action-packed Asia Cricket Week
Yuvraj Singh named ICC Men’s T20 World Cup 2024 Ambassador
Greece hands Olympic flame to 2024 Paris Games hosts
Two Kyiv hospitals evacuating over feared Russian strikes
World must act on neurotech revolution, say experts
Charles & Catherine's cancer diagnoses
Champions Alcaraz and Sabalenka through in Madrid Open
King Charles to resume some public duties during cancer treatment: palace
US defense chief announces $6 bn in security aid for Ukraine
More Stories From World
-
Haliburton hits winner as Pacers hold off Bucks in overtime, Mavs thump Clippers
52 minutes ago -
'Everyone sits out': Yangon parks offer heatwave relief
52 minutes ago -
6,000 French police to welcome Olympic torch amid bonus boost
1 hour ago -
Golf: LPGA LA Championship scores
1 hour ago -
Tennis: ATP/WTA Madrid Open results - collated
2 hours ago -
PGA Zurich Classic of New Orleans scores
2 hours ago
-
Sudanese filmmakers shine light on war's 'silent problems'
2 hours ago -
NFL will allow players to wear Guardian Cap helmets in games
8 hours ago -
Football: German Bundesliga table
8 hours ago -
Football: Italian Serie A result
8 hours ago -
Football: German Bundesliga results
8 hours ago -
US troops to leave Chad in second African state withdrawal
8 hours ago