The volcanic ash cloud cost the world’s economy an estimated $5 billion, according to an economic analyst presenting at this week’s World Travel and Tourism Council in Beijing.
Adrian Cooper, managing director at analysts Oxford Economics, told delegates at the conference that the cost to the world’s business had been phenomenal and at times 80% of all flights were grounded in a period that saw the worst shut down in European airspace since the second world war.
He said that it was not only airlines and hotels that suffered but also the supply industry. Some $65 million worth of perishable goods were lost in Africa alone. He also cited the European flower markets who could not transport their produce.
Said Cooper: “The $5 billion figure includes offsets for those increases in alternative modes of transport that would have increased as planes were not allowed to leave the ground such as train, ferry and automobile. It is likely that after longer more in-depth research the loss figure may well increase.”
At the WTTC opening ceremony on Tuesday night China National Tourism Administration chairman Shao Qiwei declared a new era for his country’s attitude to tourism, saying it would offer a “more open vision”.
