Tourism accounts for 10% of the European GDP is depended on tourism revenues. It also has wiped out a huge section of the jobs, both direct and indirect jobs that the industry generates have also been wiped out from Europe.
While the industry was severely impacted by the pandemic and its restrictions, Europe was trying to come back as a major tourism destination in 2021-22. But the war has sent the industry spiraling downwards again.
Leading experts are of the opinion that there are several direct and indirect impacts around the tourism industry. The Russians were the biggest tourist market for many European countries where they were the biggest markets. They also contributed to the growth of the huge luxury shopping and brands across Europe. The war will also directly affect the neighbouring countries to Russia in an adverse manner.
The indirect impact of the war can be seen by the rising gas prices across Europe. It will also disrupt the global supply chains across Europe and the world. Many tourist agencies are helping the Ukrainians evacuating from the war zone.
Another indirect impact of the war would be the rise in global inflation. It is imperative that the ETC regains the trust of the world and promote Europe as a tourist destination.
Tags: ETC, Russia, Russia-Ukraine War, tourism industry in Europe
