Policy Brief: COVID-19 and Transforming Tourism AUGUST 2020 Executive summary Tourism provides livelihoods for millions of people and allows billions more to appreciate decreased by 56 per cent and $320 billion in exports from tourism were lost in the ?rst ?ve their own and different cultures, as well as the natural world. For some countries, it can repre- sent over 20 per cent of their GDP and, overall, it is the third largest export sector of the global economy. Tourism is one of the sectors most affected by the COVID-19 pandemic, impacting economies, livelihoods, public services and opportunities on all continents. While sustain- ing the livelihoods dependent on the sector must be a priority, rebuilding tourism is also an opportunity for transformation with a focus on leveraging its impact on destinations vis- ited and building more resilient communities and businesses through innovation, digital- ization, sustainability, and partnerships. months of 2020 – more than three times the 1 loss during the Global Economic Crisis of 2009. Governments are struggling to make up for the lost revenues that are needed to fund public services, including social and environmental protection, and meet debt repayment schedules. Scenarios for the sector indicate that inter- national tourist numbers could decline by 58 per cent to 78 per cent in 2020, which would translate into a drop in visitor spend- ing from $1.5 trillion in 2019 to between $310 and $570 billion in 2020. This places over 100 million direct tourism jobs at risk, many of them in micr