UK ECONOMY SEEN TO LOSE 27 BILLION POUNDS

By The Financial District
Mar 2, 2021
2 min read

Nearly £27 billion (31.2 billion euros) will be lost from the UK economy if the government delays restarting international travel until May 17, according to the World Travel and Tourism Council (WTTC) in a Euronews report

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The date was set by Prime Minister Boris Johnson when he unveiled the highly anticipated roadmap out of lockdown last week. According to the government’s plan, two households will be able to mix outdoors from March 29 - a date which many believe should also mark the start of international travel.

Allowing journeys overseas just seven weeks earlier, to coincide with the Easter holiday break could save struggling businesses who rely on travel and tourism, they say. It could also provide a much-needed boost to the economy.

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Could vaccines and testing help with international travel?

WTTC fears delaying the revival of international travel for another seven weeks will quicken the collapse of the sector. It contributes 2.3 billion euros annually to the UK economy and is responsible for almost four million jobs.

While the government’s rapid vaccine rollout has been widely celebrated, the global tourism body has called upon the Prime Minister to give greater clarity about what May 17 will look like. This would enable businesses to prepare for the restart and consumers to book with confidence.

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There is a belief that international travel can safely resume with a comprehensive, coordinated regime for testing upon departure and arrival. This should be done alongside the global vaccine rollout, enhanced health, and hygiene protocols. One of the most important measures is mandatory mask-wearing, which experts say can cut down transmission of the virus by more than 80 percent.

The introduction of vaccine passports could also support the recovery of the industry. Vaccinations and testing, alongside other precautions, should prevent blanket quarantines and remove the need for potentially confusing air corridors, which could affect people’s confidence in traveling, WTTC claims.

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