Having entered a double-dip recession due to the pandemic, the European Union is hoping to ease its economic hardships by reopening its borders to tourists this summer in an attempt to help the heavily hit tourism sector recover.
Tourism generally accounts for at least 9.5 percent of the bloc’s economy, according to the World Travel and Tourism Council.
According to the European Commission’s projections, Europe’s overall revenue losses amount to 50 percent for hotels/restaurants, 70 percent for tour operators and travel agencies, and 90 percent for cruise companies and airlines. Additionally, up to 7 million jobs in the sector are expected to have been lost.
The task of boosting the economy will not be easy, especially as the European Travel Commission’s quarterly report, “European Tourism Trends& Prospects”, says that European destinations continued to see a major drop in tourist arrivals in the first quarter of this year.
This included Austria,…