Kassym-Zhomart Tokayev has reacted to the problems of tourism on the outbreak of COVID-19 in the Republic of Kazakhstan. He instructed the Government to develop a package of incentive measures to support the tourism industry. National Bank and the Government should prepare an additional package of measures for preferential lending to business entities, providing for the financing of their operating activities.
He also instructed to provide tax stimulus for the most vulnerable types of business. This will touch individual objects of trade, cinemas, theaters, shows, sports objects.
The tourism sector is one of the most affected areas of the COVID-19 outbreak today. Due to the restriction to travel, it impacts on both travel supply and demand. UNWTO and WHO have conducted joint research to estimate the possible effects of the outbreak.
Taking the SARS scenario of 2003, they evaluated that in 2020 global international tourist arrivals could decline between 1% to 3%, which is equal to the loss of US$ 30 to 50 billion in spending by international visitors. Small and medium-sized enterprises (which make up around 80% of the tourism sector) are expected to be particularly impacted. Due to these hard times, UNWTO calls for adequate political support to the industries of affected countries.
Further information on https://webunwto.s3.eu-west-1.amazonaws.com/s3fs-public/2020-03/COVID19_NewDS_0.pdf