The European Commissioner for the Internal Market, Thierry Breton, proposed the group of a European tourism summit to happen in September or October.
The summit may even happen in June as a videoconference. The goal of the summit can be to “reflect together on the future and to build a roadmap towards sustainable, innovative and resilient European tourism”, defined Thierry Breton. The thought is to carry collectively institutional gamers, nationwide, regional and native public authorities and trade gamers, in accordance with the Commissioner’s spokesman.
Thierry Breton additionally insisted on the protection of European firms within the sector which might be coated by overseas traders. This sector “must also protect itself in particular from the aggressive investment strategies of non-European countries which could see the current crisis as an opportunity to acquire European jewels at lower prices”, he warned.
“I will particularly be attentive to this with the Member States so that our tools for monitoring foreign investment are on alert,” he added. The contribution of European tourism to the EU’s GDP is within the order of 10-11% and accounts for 12% of employment. Last week, the IMF warned of the dangers confronted by the southern eurozone nations – Spain, Italy, Portugal and Greece – whose economies are closely depending on tourism.
An emergency support program with a quantity of 540 billion was permitted by EU, loans for short-time work packages, small and medium-sized enterprises. In whole, 3.Three billion euros in corona support was mobilized as a part of a nationwide assist package deal. A reconstruction fund has additionally been mentioned.
The EU indicated that because of the pandemic, tourism in Europe would drop 70% as a consequence of coronavirus. The journey and tourism trade may lose between 275 thousand and 400 billion euros as a result of pandemic.