Slump in tourism to knock 0.7% off world growth

Travel and tourism is clearly one of the hardest hit sectors in the coronavirus crisis. In a realistic scenario where travel and tourism dropped by 50% for six weeks, annual global GDP growth would be reduced by about 0.7 percentage points. Indirect effects or disruption to domestic travel could make the hit even harder. What’s more, the strain on insurers and airlines is adding to the risk of a financial crisis.