IMF Conference

Tourism is a major global economic driver. Many economic sectors are dependent on its performance, such as retail, accommodation and dining, and transportation, and with its complex supply chain, tourism contributed over 10 percent of global GDP and 300 million jobs in 2019. The COVID-19 pandemic has led to an unprecedented collapse in economic activity and significant travel restrictions amid great uncertainty. The impact of the crisis is especially acute for tourism-dependent economies where, until recently, the expansion of the tourism sector was a key pillar of a sustainable development path.

This 45-minute discussion leverages the findings of the IMF paper on Tourism in the Post-Pandemic World: Economic Challenges and Opportunities for Asia-Pacific and the Western Hemisphere.

Key stakeholders will discuss the impact of the pandemic and the future of tourism in the “new normal”, including key policies and reforms to mitigate the impact on output and jobs while facilitating the safe reopening of economies.