When Covid-19 became a global pandemic in March 2020, we knew it would take a toll on travel. In fact, experts estimated $2.1 trillion loss in global travel revenue, which was more than the U.S. stimulus package, set at $2 trillion. Now, the economic impact on top destinations is being reported with France and Italy leading the pack on the worst hit. In fact, according to InsureMyTrip.com, these two countries could both have $8 billion in tourism financial loss due to the lack of U.S. tourists during Covid-19.
In a new study analyzing data from the U.S. National Travel & Tourism Office, InsureMyTrip estimated the number of U.S. visits in 2019 for 30 countries, as well as how much money restricted countries may be missing out on from the significant U.S. tourism decease over the past 6 months.
Italy topped the list at No. 1 with $8.28 billion tourism loss due to lack of U.S. tourism over the past 6 months.
5.6 million Americans visited Italy in 2019, according to figures from the Italian government. The U.S. is second only to Germany when it comes to the number of annual tourists to Italy.
The Italian National Institute of Statistics projects that 60% of businesses in the travel industry fear imminent collapse and many did not reopen once restrictions have been lifted.
France was close behind at No. 2 with $8.17 billion financial loss. 4.8 million Americans arrived in France in 2019 and in total, there were 90 million international visitors, making it a record year for tourism.
These two countries had the most tourism loss due to Covid-19. France and Italy are some of the most popular destinations in the world for American travelers.
The rest of the list includes:
3. Spain – $5.8 billion
4. Germany – $5.7 billion
5. China – $4 billion
6. Japan – $3.6 billion
7. Bahamas – $3.5 billion
8. Netherlands – $3.5 billion
9. India – $3.5 billion
10. Ireland – $3.3 billion
The Bahamas is the only Caribbean island in the top ten, coming in seventh position, with an estimated $3.5 billion loss of income from the lack of U.S. tourism. The Bahamas’ move to ban most international travelers, especially Americans, was substantial, according to InsureMyTrip.
50% of the nation’s GDP comes from tourism, with the majority from United States visitors. In 2019, the Bahamas welcomed their highest number of tourists, with a record 1.45 million from the United States.
4 famous road trips to take in America
How 11 major hotel chains have responded to the coronavirus pandemic.
Some of the links in this post are affiliate links. If you click on the link and purchase the item, I will receive an affiliate commission. Please do! I’m a one-man team for this website, so any help is sincerely appreciated.