A possible loss of US$ 14 billion for the tourism economy: UNWTO on the Russia-Ukraine war

Russia’s military offensive risks hampering the return of confidence to global travel, as per UNWTO. UNWTO Tourism Market Intelligence and Competitiveness assesses that the US and Asian source markets could be particularly impacted, especially regarding travel to Europe, as these markets are historically more risk averse. As source markets, Russia and Ukraine represent a combined 3% of global spending on international tourism as of 2020. A prolonged conflict could translate into a loss of US$ 14 billion in tourism receipts globally in 2022.