May 7 - Five international air transport and tourism bodies have launched an appeal to international financial institutions, country development partners and international donors to support Africa’s Travel & Tourism sector which employs some 24.6 million people on the African continent. Without urgent funding, the COVID-19 crisis could see a collapse of the sector in Africa, taking with it millions of jobs. The sector contributes $169 billion to Africa’s economy combined, representing 7.1% of the continent’s GDP.

 

The request is being made by the International Air Transport Association (IATA), the UN World Tourism Organization (UNWTO), the World Travel & Tourism Council (WTTC), the African Airlines Association (AFRAA) and the Airlines Association of Southern Africa (AASA).

 

These organizations are jointly calling on international financial institutions, country development partners and international donors to support the African Travel & Tourism sector through these tough times by providing:

• $10 billion in relief to support the Travel & Tourism industry and help protect the livelihoods of those it supports directly and indirectly
• Access to as much grant-type financing and cash flow assistance as possible to inject liquidity and provide targeted support to severely impacted countries
• Financial measures that can help minimize disruptions to much-needed credit and liquidity for businesses. This includes the deferral of existing financial obligations or loan repayments
• Ensuring that all funds flow down immediately to save the businesses that need them urgently, with minimal application processes and without impediment from normal lending considerations such as creditworthiness

 

Some African governments are trying to provide targeted and temporary support for hard-hit sectors such as Travel & Tourism. However, many countries lack the necessary resources to help the industry and these livelihoods through this crisis.

 

The situation is now critical. Airlines, hotels, guesthouses, lodges, restaurants, meeting venues and related businesses face mounting losses. Typically, Travel & Tourism comprises 80% of small and medium enterprises (SMEs). To preserve cash, many have already begun laying off or placing staff on unpaid leave. For more information, please visit wttc.org

 

 

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