The unemployment rate in the Euro Zone stood at 7.4%, with 12.15 million unemployed in May. (2 July)

100 million workers in 35 advanced and emerging nations were unable to work remotely, according to the International Monetary Fund (9 July).


Many economists have cut their GDP forecasts; 2020 consensus forecast for world GDP growth is -4%.


IMF predictions: global growth will decline by 4.9% in 2020. Chinese and Indian economies will grow by 1% and contract by 4.5%, respectively. (24 June)

Impact of Covid-19 on employment


As of 28 July 2020

decrease in inbound expenditure


GlobalData forecasts that inbound expenditure globally will fall by 37.9% in 2020. Domestic tourist expenditure is expected to fare better, with a projected decline of 27.3%

Airlines industry impact


IATA’s estimate of lost airline revenue for 2020 now stands at $314bn, a 55% reduction compared to last year.

International air travel impact


GlobalData forecasts that international arrivals into the 62 largest tourism markets globally will fall by 34.5% in 2020.

Key aviation market developments

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