Tourism is an important economic sector for many countries around the world, as well as a major source of foreign revenues, helping to create jobs, promote entrepreneurship and develop local economies. According to the United Nations World Tourism Organization (UNWTO), revenues from international tourism reached US$ 1.7 trillion in 2019, making it the world's third largest export category, after fuels and chemicals. This represents 28% of the world's services exports and 7% of overall exports of goods and services. For some developing economies, including many Small Island Developing States (SIDS), tourism represents over 50% of their export revenues. International tourist arrivals reached nearly 1.5 billion in 2019 after ten consecutive years of sustained growth. However, in 2020, tourism suffered the greatest crisis on record due to the outbreak of the coronavirus pandemic. International arrivals plunged by 73% in 2020, representing an estimated loss of USD 1.3 trillion in export revenues, more than 11 times the loss recorded from the 2009 global economic crisis. It could take up to 4 years for international tourism to return to the pre-pandemic levels of 2019.
