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Youth Travel Businesses Expect 60 Percent Drop in Business

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 EUR174 billion for this year.

This figure is double the decline estimated in WYSE Travel Confederation's first survey carried out in March.

A second analysis of WYSE Travel Confederation’s April COVID-19 Travel Business Impact Survey revealed 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 percent of survey respondents have already sought financial assistance or reported that they would do so immediately.