The World Travel & Tourism Council’s annual Economic Impact Report (EIR) today reveals the dramatic impact COVID-19 had on France’s Travel & Tourism sector, wiping out €103 billion from the nation’s economy.
The annual EIR from the World Travel & Tourism Council (WTTC), which represents the global Travel & Tourism private sector, shows the sector’s contribution to GDP dropped a staggering 48.8%.
Following three consecutive years in which the Travel & Tourism sector’s growth outpaced that of the overall economy, its impact on the nation’s GDP fell from €211 billion (8.5%) in 2019, to €108 billion (4.7%), just 12 months later, in 2020.
