In-Depth News published an op-ed by Senior Research Fellow Clemens Breisinger et al., on how travel restrictions and the full or partial closure of businesses and industries have led to a collapse in global travel and are expected to reduce the flows of remittances. Tourism and remittances are important sources of employment and incomes for the poor, respectively. The authors write, “governments around the world must take decisive action… … poverty is likely to increase in countries where tourism and remittances play a large role. It is also a strong reminder of the interconnectedness of the world and the importance of global cooperation to end this crisis and to be better prepared for the future.” Republished in Eurasia Review (Spain), One News Page.
Economic impact of COVID-19 on tourism and remittances – Insights from Egypt (In-Depth)
April 14, 2020