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‘Tourism sector could grow by 25% by 2022’

‘Tourism sector could grow by 25% by 2022’

After weathering a heavy blow in 2020, the tourism sector could grow by 25% by 2022 compared to 2019 if the vaccine rollout this year is done transparently and well, according to an industry leader.

A loss of $1 trillion (TL 7.34 trillion) in revenues from tourism globally is expected in a pessimistic scenario, Bulut Bağcı, head of the U.K.-based World Tourism Forum Institute (WTFI), told Anadolu Agency (AA) Wednesday.

But, he added, “under an optimistic scenario, there will be no loss when the vaccination is delivered transparently.”

Countries around the world have begun administering several COVID-19 vaccines hoped to stem the spread of the virus in 2021.

Speaking about his group’s operations on global platforms, Bağcı said it helps countries attract tourism investments and visitors. “Investors find us and we decide on the destination to be invested in,” Bağcı explained.

The institute has so far signed deals with three countries in Africa – Ghana, Angola and Chad – with an expected return on investment of four years, he underlined.

“The return on investment in Turkey is around 13 years, in Asia, 11 years, and in South America, eight years,” Bağcı said.

Pointing to the low average daily hotel room rate in Africa, he said this helps make the continent “a significant opportunity.”