UN: World tourism could lose $14B in protracted conflict over Ukraine

At least $14 billion in global tourism receipts could be lost if the conflict around Ukraine is prolonged, Report informs referring to a press release of the UN World Tourism Organization.

“The shutdown of Ukrainian and Russian airspace, as well as the ban on Russian carriers by many European countries is affecting intra-European travel. It is also causing detours in long-haul flights between Europe and East Asia, which translates into longer flights and higher costs,” reads the report.

“Russia and Ukraine accounted for a combined 3% of global spending on international tourism in 2020 and at least US$ 14 billion in global tourism receipts could be lost if the conflict is prolonged. The importance of both markets is significant for neighboring countries, but also for European sun and sea destinations. The Russian market also gained significant weight during the pandemic for long haul destinations such as Maldives, Seychelles or Sri Lanka.”