Saturday, January 16, 2021
Home Lead Story Tourism in Australia Facing $37.7 Billion Downturn Amid Pandemic

Tourism in Australia Facing $37.7 Billion Downturn Amid Pandemic

Australia's tourism industry is facing 40% downturn amid travel ban

Australia’s tourism industry is facing about a A$55 billion ($37.7 billion) downturn in the 2020/21 financial year as a result of the coronavirus pandemic.

According to a report from the Australian Trade and Investment Commission, tourism expenditure is forecast to fall from more than A$130 billion in 2019 to about A$80 billion in 2020/21, reports Xinhua news agency.

The report was based on the assumption that Australia’s international borders will remain closed until at least July 2021 but that state border restrictions will be lifted.

Follow NewsGram on Instagram to keep yourself updated.

“The issue at the moment is that the industry doesn’t know where the bottom is. The market is very confused,” Simon Westaway, chief executive of Australian Tourism Industry Council, told The Sydney Morning Herald.

australia tourism industry facing 40% downturn amid travel ban
The report was based on the assumption that Australia’s international borders will remain closed until at least July 2021. Pixabay

It comes after Prime Minister Scott Morrison said on Friday that it was “not unreasonable” to assume that international travel would not resume until July 2021, except to New Zealand, as the virus continues to spread around the world. “But no one really knows. And that’s the problem,” he said.

A total of 7,686 COVID-19 cases have been reported in Australia, with 104 deaths and 6,993 recoveries, according to the latest figures of the Department of Health.

Also Read: How Virtual Internships Helped Me Land a Job

The department also said that the number of new cases in last 24 hours is 53. Of the news cases, 49 is in Victoria. The number of cases in Victoria, which has had several outbreaks of the virus, has increased by 90 in two days, significantly more than the rest of the country combined.

The state government on Sunday announced that coronavirus testing for recently returned travellers in hotel quarantine would be made mandatory. (IANS)



Most Popular

Study: Lack Of Managers Leads To Business Failures In India

Most firms in India and other developing countries are family-owned and often shun outside managers and that is why even successful businesses fail to...

Clovia: The Ayurvedic Solutions For Personal Care

A new solution-based personal care range, 'Clovia Botaniqa', was launched, especially for mothers. The products are based on Ayurvedic formulation comprising of oils, body...

Bursting The Myth: Violent Video Games May Increase Violent Behavior

A plethora of theories has been proposed to support the stance that playing violent video games results in increased aggression and violence. However, researchers...

Home Remedies To Deal With Different Stomach Aches

Stomach ache or abdominal pain can be cramped, achy, dull, sharp, or intermittent. The common causes of stomach ache include constipation, diarrhea, acid reflux,...

Metformin: An Ease For Covid Patients With Diabetes

Use of the diabetes drug metformin -- before a diagnosis of Covid-19 -- is associated with a threefold decrease in mortality in Covid-19 patients...

83 Percent Of Single Indians Are Comfortable Meeting Up In-Person

Virtual dating is the new norm in India, but real-life connections will pick pace post-pandemic, reiterates Bumble's recent nationwide survey. After connecting with people...

Discrimination causes Anxiety and Mental Disorders, Says Study

Regardless of genetic risks, exposure to discrimination in life plays a significant role in developing anxiety and related disorders, suggests a new study. Published in...

As Cimate Change Impact Intensifies, Nations Must Urgently Step Up Actions or Face Costs: UNEP

As temperatures rise and climate change impacts intensify, nations must urgently step up action to adapt to the new climate reality or face serious...

Recent Comments