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Global Economy Could Suffer $4 Trillion Loss on Tourism Drop

  • UN data show a loss of as much as $2.4 trillion for this year
  • International tourism isn’t expected to rebound until 2023
A restaurant worker looks out along the street by empty tables in Buyukada, Turkey, on June 23. 

A restaurant worker looks out along the street by empty tables in Buyukada, Turkey, on June 23. 

Photographer: Nicole Tung/Bloomberg
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The slump in tourism caused by Covid-19 will cost the global economy more than $4 trillion for 2020 and 2021, much worse than anticipated, as an uneven vaccination rollout crushes developing countries that are highly dependent on international visitors.