Findings from WYSE Travel Confederation’s April survey on the impact of COVID-19 on travel and tourism businesses indicate the decline in international tourism receipts for the youth travel industry could equate to 174 billion euros in 2020. 
This figure is double the decline estimated in WYSE Travel Confederation’s first survey carried out in March.
Average financial solvency period is currently four months
A second analysis of WYSE Travel Confederation’s April COVID-19 Travel Business Impact Survey reveals that travel businesses have been quick to cut staff and close locations in a bid to lessen the financial impact of the pandemic. Almost 50% of survey respondents have already sought financial assistance or reported that they would do so immediately.
COVID-19 and youth travel
WYSE Travel Confederation will be publishing more findings from the COVID-19 Travel Business Impact Survey in the coming weeks, and will repeat the survey from 1 – 11 May 2020.
