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Coronavirus will cost global tourism at least $1.2 trillion, UN agency warns
The world’s tourism sector could lose at least $1.2 trillion, or 1.5 per cent of the global gross domestic product (GDP), having been placed at a standstill for nearly four months due to the coronavirus pandemic, according to a report Wednesday from the United Nations Conference on Trade and Development.
The UNCTAD warned that the loss could rise to $2.2 trillion or 2.8 per cent of the world’s GDP if the break in international tourism lasts for eight months, in line with the expected decline in tourism as projected by the UN World Tourism Organisation (UNWTO).
UNCTAD estimates losses in the most pessimistic scenario, a 12-month break in international tourism, at $3.3 trillion or 4.2 per cent of global GDP.
Tourism is a backbone of many countries’ economies and a lifeline for millions of people around the world, having more than tripled in value from $490 billion to $1.6 trillion in the last 20 years, according to UNWTO.
But Covid-19 has brought it to a halt, causing severe economic consequences globally.
Prevailing lockdown measures in some countries, travel restrictions, reductions in consumers’ disposable income and low confidence levels could significantly slow down the sector’s recovery.
Even as tourism slowly restarts in an increasing number of countries, it remains at a standstill in many nations.
“These numbers are a clear reminder of something we often seem to forget: the economic importance of the sector and its role as a lifeline for millions of people all around the world,” UNCTAD’s director of international trade Pamela Coke-Hamilton was quoted in a statement, as saying.
“For many countries, like the small island developing states, a collapse in tourism means a collapse in their development prospects. This is not something we can afford.”
Developing countries could suffer the steepest GDP losses.
Jamaica and Thailand stand out, losing 11 per cent and 9 per cent of GDP respectively in the most optimistic scenario of UNCTAD’s estimates. Other tourism hotspots such as Kenya, Egypt and Malaysia could lose over three per cent of their GDP.
But the tourism sector in many rich nations will also feel the squeeze.
Popular European and North American destinations, including France, Greece, Italy, Portugal, Spain and the United States could lose billions of dollars due to the dramatic drop in international tourism, according to UNCTAD forecasts.
Impact on other sectors, jobs and wages
Travel and tourism account for a significant share of global GDP and more than half of many countries’ national income.
Coronavirus-induced losses in tourism have a knock-on effect on other economic sectors that supply the goods and services travellers seek while on vacation, such as food, beverages and entertainment.
UNCTAD estimates that for every $1 million lost in international tourism revenue, a country’s national income could decline by $2 million to $3 million.
The massive fall in tourist arrivals has also left a growing number of skilled and unskilled workers unemployed or with less income.
UNCTAD estimates show that in the worst-affected countries, such as Thailand, Jamaica and Croatia, employment for unskilled workers could decrease at double-digit rates even in the most moderate scenario.
In the case of wages for skilled workers, the steepest drops could be seen in Thailand (-12 per cent), Jamaica (-11 per cent) and Croatia (-nine per cent), in the optimistic case, doubling or tripling in the worst scenario.
The effects could be particularly negative for women, who are expected to be disproportionately affected by layoffs in tourism due to Covid-19, according to the report.
Women are more likely than men to be entrepreneurs in tourism and make up about 54 per cent of the workers in the accommodation and food services sectors.
And because many women in the sector work informally in low-skilled jobs, they are less likely to have unemployment benefits or other safety nets.
“This is why women are particularly hard hit in this crisis. And this is why policies that help protect the sector also protect the economic empowerment that many of these women have long fought for,” Coke-Hamilton said.
Maldives continues to suffer
The UNCTAD report shows that inbound tourism accounts for 58 per cent of the Maldives GDP.
The report, however, does not specify the impact of Covid-19 on Maldives tourism and its economy.
The coronavirus outbreak has hit the Maldivian economy hard, as travel restrictions and other preventive measures affect the country’s lucrative tourism industry, which contributes the bulk of the island nation’s state revenue and foreign reserves.
Before the pandemic, the government had been bullish about tourism prospects, targeting two million, high-spending holidaymakers this year after last year’s record 1.7 million.
However, only 382,760 tourists visited the Maldives before the country closed its borders on March 27. It was a 40.8 per cent decline over the 646,092 that visited the Maldives from January to March last year.
With arrival numbers falling, several resorts across the Maldives suspended operations.
Tourism has been the bedrock of the Maldives’ economic success. The $5 billion-dollar economy grew by 6.7 per cent in 2018 with tourism generating 60 per cent of foreign income.
However, the government is at present projecting a possible 13 per cent economic contraction this year — an estimated $778 million hit.
On March 8, Maldives reported its first cases of the novel coronavirus, as two hotel employees tested positive for Covid-19 at a luxury resort in the archipelago.
Eighteen more cases — all foreigners working or staying resorts and liveaboard vessels except five Maldivians who had returned from abroad — were later identified.
A six-case cluster of locals, detected in capital Male on April 15, confirmed community transmission of the coronavirus. Several more clusters have since been identified, bringing the total number of confirmed case in the Maldives to 2,382.
Ten deaths have been reported and 1,954 have made full recoveries.
The Maldives announced a state of public health emergency on March 12, the first such declaration under a recent public health protection law.
The public health emergency declaration allowed the government to introduce a series of unprecedented restrictive and social distancing measures, including stay-at-home orders in capital Male and its suburbs, a ban on inter-island transport and public gatherings across the country, and a nationwide closing of government offices, schools, colleges and universities.
Non-essential services and public places in the capital such as gyms, cinemas and parks were also shut.
Restaurants and cafes in the capital were asked to stop dine-in service and switch to takeaway and delivery.
A nationwide shutdown of all guesthouses, city hotels and spa facilities located on inhabited islands was also ordered.
These measures allowed authorities to contain the outbreak.
The restrictions are now being eased in phases, with the third phase kicking in from Wednesday.
The Maldives is also preparing to reopen its borders on July 15.
Recovery support needed
UNCTAD calls for strengthened social protection in the affected nations to prevent the worst economic hardship for people and communities that depend on tourism.
It urges governments to protect workers. Where some enterprises are unlikely to recover, wage subsidies should be designed to help workers move to new industries.
Governments should also assist tourism enterprises facing the risk of bankruptcy, such as hotels and airlines. One approach for financial relief is low-interest loans or grants, the report states.
In addition, UNCTAD calls on the international community to support access to funding for the hardest-hit countries.
Cover photo: Mihaaru News
Holiday Inn Resort Kandooma Maldives has announced that it has successfully achieved Green Globe Certification, following an independent audit conducted after a focused six-month programme. Officially awarded on 23 December 2025, the resort attained an 86 per cent compliance score, marking an important step in its ongoing sustainability efforts.
Green Globe Certification is recognised as one of the world’s leading sustainability standards for the tourism sector. To be certified, organisations must demonstrate verified compliance with more than 40 criteria covering environmental stewardship, social responsibility, cultural heritage and sustainable management. The process prioritises transparency, measurable progress and continuous improvement, making the certification a notable accomplishment within the global hospitality industry.
General Manager Mark Eletr noted that the result reflects both strategic intent and collective commitment across the resort.
He stated: “We are very pleased with this achievement and with the steps taken to prioritise sustainability at Kandooma. That focus was evident from the outset through the expansion of two key roles within the team, ensuring sustainability leadership and accountability were firmly in place.”
As part of this approach, the resort introduced a combined Sustainability Officer and General Manager’s Executive Assistant role to lead operational implementation, supported by enhanced strategic guidance from the Director of Marketing, who recently completed tertiary studies with a strong sustainability focus.
Mark Eletr added: “An Executive Assistant role is traditionally heavily administrative. By streamlining my own processes and integrating AI tools to improve efficiency, we were able to redesign the role to place sustainability at its centre. Broadening our Director of Marketing’s remit has further strengthened strategic direction by adding genuine expertise and commitment. With both positions reporting directly to me, sustainability is clearly elevated across the resort, and the structure has proven highly effective.”
He also highlighted that the certification journey itself has been one of the most valuable outcomes.
“This was a whole-resort effort. It required commitment, collaboration and a shared vision for Kandooma’s long-term direction. We have now established strong policies, processes and measurement frameworks that will endure beyond the current leadership team, forming a key part of our annual planning cycle.”
The certification aligns closely with IHG Hotels & Resorts’ Journey to Tomorrow framework, the group’s global sustainability strategy centred on people, communities and the planet. It sets targets related to carbon reduction, water stewardship, waste management, responsible sourcing and community impact across IHG’s worldwide portfolio.
With an 86 per cent score against Green Globe’s criteria, Holiday Inn Resort Kandooma Maldives demonstrated strong performance in areas such as energy and water efficiency, waste reduction and recycling, marine ecosystem protection, responsible procurement, colleague wellbeing and community engagement. Initiatives including coral conservation, marine education, colleague sustainability training and newly introduced guest sustainability pledges highlight the resort’s integrated approach to responsible tourism.
Reflecting on the process, Mark Eletr said: “The past few months have been challenging, but the outcome has been worthwhile. This certification gives us a clear improvement plan and a roadmap for the future. We did not want a symbolic certification—we chose Green Globe because it is rigorous and evidence-based. Some said it would be too difficult, which is exactly why we pursued it. We wanted a standard that pushes us to improve, now and in the years ahead.”
Green Globe Certification provides an ongoing framework to support continuous improvement, ensuring the resort evolves its sustainability practices year after year. Holiday Inn Resort Kandooma Maldives remains committed to advancing responsible tourism, encouraging guests to make sustainable choices, and contributing positively to the protection of the Maldives’ natural and cultural heritage.
The beginning of a new year offers a natural pause for reflection and intention. At Angsana Velavaru, this transition is marked not by haste, but by experiences that honour time, place, and the quiet beauty of island life.
Situated within a wide private lagoon in the South Nilandhe Atoll, Angsana Velavaru is known for its sense of space, calm, and considered hospitality. As 2026 begins, the resort invites guests to welcome the year through its 101 Things to Do, a curated collection of experiences that emphasise exploration, connection, and balance.
Each activity is created to mirror the rhythm of the island. Mornings may open with gentle movement beside the sea or peaceful moments as the horizon brightens. The lagoon presents opportunities for discovery, from snorkelling and diving among coral reefs to leisurely cruises that reveal the Maldives in its most elemental form. Evenings unfold at a slower pace, shaped by unhurried conversations and lingering sunsets.
Wellbeing remains central to the Angsana Velavaru offering. At Angsana Spa, restorative treatments draw upon long-standing Asian traditions, delivering an approach to renewal that extends beyond the spa experience. Elsewhere, wellness is expressed through mindful movement, expansive open-air spaces, and the freedom to slow down, enabling guests to reconnect with themselves and the natural surroundings.
Accommodation at the resort reflects thoughtful design and a deep connection with nature. Beachfront villas provide immediate access to white sands and sheltered garden spaces, while the distinctive InOcean Pool Villas offer an elevated sense of privacy and perspective. These overwater residences feature infinity pools that blend seamlessly with the horizon and double-storey layouts crowned with rooftop terraces, providing uninterrupted views of the ocean, sky, and shifting light.
Culinary experiences form an integral part of the stay. With offerings ranging from Maldivian cuisine to Indian, Pan-Asian, and international dishes, dining at Angsana Velavaru highlights both variety and careful preparation. Flexible all-inclusive options and curated leisure programmes allow guests to shape their experience according to their personal pace.
At its core, the 101 Things to Do serve as a celebration of meaningful travel. They encourage guests to engage deeply, appreciate moments both modest and significant, and begin the year with a sense of clarity and renewed purpose.
The Ritz-Carlton Maldives, Fari Islands has launched its 2026 Masters of Crafts season with a sound-and-motion duo featuring singer-songwriter Madison McFerrin and movement therapist Jacy Cunningham, Founder of the Jacy Method. Their joint residency will take place from 19 to 26 January, opening the resort’s annual programme that highlights distinguished talent across diverse creative and wellness disciplines. This edition is set to offer guests a blend of transformative fitness experiences and intimate musical performances.
Los Angeles-based singer-songwriter Madison McFerrin brings her genre-blending sound to the Maldives, weaving neo-soul, R&B, and jazz-inspired harmonies into a personal and expressive musical journey. She will perform at a sunset concert at the Beach Shack on 22 January, followed by a candlelit performance under the stars at Mystique Garden on 23 January. Her residency will conclude with a Morning Coffee Session at The Ritz-Carlton Estate on 25 January, where the poolside deck of the four-bedroom beach residence will provide an elegant setting for a calm and uplifting start to the day.
Movement therapist Jacy Cunningham returns to the resort for his second Masters of Crafts appearance. He will lead four HIIT classes inspired by athletic conditioning, functional movement, and mindful breathwork. Designed to suit all fitness levels, the sessions aim to energise the body, restore balance, and strengthen the connection between mind and movement. The programme begins on 22 January with Resilience and Flow, a sunrise HIIT session on Recreation Beach. On 23 January, guests can join Igniting Inner Strength at Mystique Garden, followed by Lightness and Freedom on 24 January in the natural surroundings of Uthuru Garden. The series concludes on 25 January with Stability and Strength, a HIIT fusion class held within The Ritz-Carlton Spa.
Oscar Postma, General Manager of The Ritz-Carlton Maldives, Fari Islands, stated: “We are delighted to welcome Madison McFerrin and to welcome back Jacy Cunningham to our Masters of Crafts programme. Their commitment to artistic expression, movement, and wellbeing provides guests with a rare chance to connect meaningfully with both craft and nature.”
Set against the tranquil landscape of the North Malé Atoll, the residency invites guests on a sensory journey shaped by music, movement, and the surrounding natural environment. It offers an opportunity to depart feeling both renewed and inspired, with lasting impressions of experiences rooted in harmony with the Maldives.
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