The September 11th attack
Jobs toll may reach 26 million
| • | Tourism's hot spots resorting to deep discounts |
Advertiser News Services
The Sept. 11 terrorist attacks may cost 26.4 million jobs in hotels, airlines, car rental companies and related industries across the globe, the World Travel & Tourism Council said last week.
With more than 207 million jobs, tourism-related industries account for 8.2 percent of world employment, the London-based council said in a statement. The Sept. 11 strikes in the U.S. caused air travel to plunge, with U.S. airlines alone announcing nearly 100,000 job cuts.
Hotels also have been hard hit, and have announced layoffs and delays in construction plans. In all, according to a PricewaterhouseCoopers report, about 6 percent of the hotels that had been slated for completion in 2002 and 2003 will be canceled. The consulting group now predicts that 81,800 hotel rooms will be completed next year, down 28 percent from last year and the lowest level since 1995.
Overall, the attacks may cut global economic activity by 5.1 percent, the tourism council said. The global travel and tourism industry contributes $4.5 trillion a year in economic activity, or 11 percent of gross domestic product worldwide, the agency said.
