Economic Collapse

Increasing Global Economic Collapse and ‘Distress of Nations’; Covid-19 could wipe out more than 120 (6+6) million jobs & over $1.2 (6+6) trillion from global tourism industry.

Increasing Global Economic Collapse and ‘Distress of Nations’; Covid-19 could wipe out more than 120 (6+6) million jobs & over $1.2 (6+6) trillion from global tourism industry.

29 Aug, 2020 RT

The United Nations (UN) has released figures on the devastating impact of Covid-19 on global tourism, warning that the outbreak may cost the troubled sector $1.2 trillion in losses and put 120 million tourism jobs at risk.

In a recently published policy brief, the UN projected that international tourist numbers may decline by between 58 percent to 78 percent in 2020, compared to last year. According to its calculations, such an “immense shock” for the industry, which accounts for the bulk of some countries’ revenues, could translate into a drop of between 850 million and 1.1 billion international tourists.

In the first five (5) months of this year, international tourist arrivals decreased by more than half and some $320 billion dollars in exports from tourism were lost,” UN Secretary-General Antonio Guterres said earlier this week. The already sustained damages are over three times what was lost during the entire 2009 global economic crisis. 

As one in 10 people on Earth work in the tourism sector, the unprecedented crisis threatens the wellbeing of millions, the organization warned. Thus, 100 million to 120 million direct jobs in tourism may be wiped out, while unemployment in countries heavily reliant on tourism may spike by more than 20 percent.

Noting that tourism has been one of the key drivers of the global economy for years, the UN said that the steep fall of export revenues from tourism will result in a drop in global gross domestic product (GDP). The most “optimistic” scenario implies that global GDP will shrink by $1.17 trillion, or 1.5 percent. In the case of a prolonged standstill (up to 8 months), the damage will rise to $2.22 trillion, or 2.8 percent of GDP.  

The Covid-19 pandemic brought global tourism to a standstill in March, when most countries shut their borders to contain the spread of the deadly virus that has killed over 820,000 people.  

Some airlines, struggling to survive during the pandemic even with financial help from governments, earlier hinted that they see no end in sight to the coronavirus disruption. Earlier this week, both American Airlines and Delta announced additional job cuts. While Delta is set to furlough 1,941 pilots this fall, American Airlines said that its workforce will shrink by 19,000 in October, when protections tied to federal stimulus expire. After all voluntary exits and other cuts, American Airlines is set to have 100,000 workers in under two months, down from the 140,000 it employed in March. The carrier reportedly said that the US government assumed that the virus would be contained and demand recovered by the end of September, but it seems that is “not the case.”

In His Service,

Night Watchman

Paul Rolland

Night Watchman Ministries

Make Your Decision for Christ NOW!!!!!!! Time is Up!!!!!!!

Jesus Christ’s Offer of Salvation:

The ABCs of Salvation through Jesus Christ (the Lamb)

A. Admit/Acknowledge/Accept that you are sinner. Ask God’s forgiveness and repent of your sins.

. . . “For all have sinned, and come short of the glory of God.” (Romans 3:23).

. . . “As it is written, There is none righteous, no, not one.” (Romans 3:10).

. . . “If we say that we have no sin, we deceive ourselves, and the truth is not in us.” (1 John 1:8).

B. Believe Jesus is Lord. Believe that Jesus Christ is who He claimed to be; that He was both fully God and fully man and that we are saved through His death, burial, and resurrection. Put your trust in Him as your only hope of salvation. Become a son or daughter of God by receiving Christ.

. . . “That whosoever believeth in him should not perish, but have eternal life. For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life. For God sent not his son into the world to condemn the world; but that the world through him might be saved. (John 3:15-17). For whosoever shall call upon the name of the Lord shall be saved.” (Romans 10:13).

C. Call upon His name, Confess with your heart and with your lips that Jesus is your Lord and Savior.

. . . “That if thou shalt confess with thy mouth the Lord Jesus, and shalt believe in thine heart that God hath raised him from the dead, thou shalt be saved. For with the heart man believeth unto righteousness; and with the mouth confession is made unto salvation.” (Romans 10:9-10).

. . . “If we say that we have no sin, we deceive ourselves, and the truth is not in us. If we confess our sins, he is faithful and just to forgive us our sins, and to cleanse us from all unrighteousness. If we say that we have not sinned, we make him a liar, and his word is not in us.” (John 1:8-10).

. . . “And he is the propitiation for our sins: and not for ours only, but also for the sins of the whole world. (John 2:2).

. . . “In this was manifested the love of god toward us, because that God sent his only begotten Son into the world, that we might live through him. And we have seen and do testify that the Father sent the Son to be the Saviour of the world. Whosoever shall confess that Jesus is the Son of God, God dwelleth in him, and he in God.” (1 John 4:9, 14-15).

. . . “But God commendeth his love toward us, in that, while we were yet sinners, Christ died for us. Much more then, being now justified by his blood, we shall be saved from wrath through him. For if, when we were enemies, we were reconciled to God by the death of his Son, much more, being reconciled, we shall be saved by his life.” (Romans 5:8-10).

. . . “For the wages of sin is death; but the gift of God is eternal life through Jesus Christ our Lord.” (Romans 6:23).

. . . “Jesus saith unto them, I am the way, the truth, and the life, no man cometh unto the Father, but by me.” (John 14:6).

. . . “For I am not ashamed of the gospel of Christ: for it is the power of God unto salvation to everyone that believeth.” (Romans 1:16).

. . . “Neither is there salvation in any other: for there is none other name under heaven given among men, whereby we must be saved.” (Acts: 4:12).

. . . “Who will have all men to be saved, and to come unto the knowledge of the truth for there is one God, and one mediator between God and men, the man Christ Jesus.” (1 Timothy 2:4-6).

. . . “For God did not appoint us to suffer wrath but to receive salvation through our Lord Jesus Christ.” (1 Thessalonians 5:9).

. . . “But as many as received him, to them gave the power to become the sons of God, even to them that believe on his name.” (John 1:12).

True Church / Bride of Christ Spared from God’s Wrath:

 Romans 5:8-10. “But God commendeth his love toward us, in that, while we were yet sinners, Christ died for us. Much more then, being now justified by his blood, we shall be saved from wrath through him. For if, when we were enemies, we were reconciled to God by the death of his Son, much more, being reconciled, we shall be saved by his life.”

Romans 12:19Dearly beloved, avenge not yourselves, but rather give place unto wrath: for it is written, Vengeance is mine; I will repay, saith the Lord.

1 Thessalonians 1:10. And to wait for his Son from heaven, whom he raised from the dead, even Jesus, which delivered us from the wrath to come.

1 Thessalonians 5:9. For God hath not appointed us to wrath, but to obtain salvation by our Lord Jesus Christ,

Romans 8:35. Who shall separate us from the love of Christ? shall tribulation, or distress, or persecution, or famine, or nakedness, or peril, or sword?

Jeremiah 30:7. Alas! for that day is great, so that none is like it: it is even the time of Jacob’s trouble, but he shall be saved out of it.

Revelation 3:10 Because thou hast kept the word of my patience, I also will keep thee from the hour of temptation, which shall come upon all the world, to try them that dwell upon the earth.

Categories: Economic Collapse

Leave a Reply