Tourism Industry

60%
Fall in international tourism in 2020 forecast by the OECD, a club of rich countries. Several governments are looking to a radical policy to revive tourism by paying subsidies directly to holidaymakers. Japan’s “Go To Travel” scheme has earmarked ¥1.3trn ($12.6bn) of taxpayers’ money that will be used to offset half the cost of domestic trips for any travellers in the country. Similar plans are being implemented in Iceland, Italy, South Korea, Taiwan and Thailand. Many who live in the tourist hotspots intended to benefit most oppose such schemes, especially in Japan. The fear is that travellers could bring COVID-19 back to their areas.
Last Modified: 22-Jul-2020 8:41 AM
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Source The Economist Espresso