If the threat of terrorism wasn’t enough of a blow, the tourism industry looks like it will shed thousands of jobs due to the global financial crisis and the subsequent drop in travel.
Almost 500,000 people are directly employed in the tourism industry. More than half of tourism operators will look to cut staff this quarter, according to a survey conducted by the Tourism and Transport Forum (TTF).
Confidence is low with many businesses losing faith in the international market, notes TTF executive director Olivia Wirth. “The first quarter of this year is looking fairly bleak for the tourism industry and the survey clearly shows that these conditions will continue well into 2010,” she said. “Only six percent of the tourism industry believes there will be a recovery this year.”