Covid-19 may cause $3.6bn loss to GDP: World Bank report

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A new World Bank policy brief on the tourism sector of South Asia estimates that the potential loss to Pakistan’s GDP due to the impact of Covid-19 pandemic would be $3.64 billion, while Khyber Pakhtunkhwa province is likely to suffer $10 million to $20m in losses.

The policy brief, ‘Covid-19 and Tourism in South Asia’, further estimates that the impact of coronavirus outbreak has put at risk 880,000 jobs in the tourism sector of Pakistan.

A summary of Covid-19 tourism response activities by the government lists cash grant or subsidies, tax rebates/relief/extension, fee/bills waivers, tourism communications or crisis task force, support for industry to address contamination, repurpose tourism assets for crisis operations, national carriers waiving cancellation fees and maintain cargo operations of national carriers.

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