The industry will lose $12.7 billion in revenue by 2030 due to the decline in inbound tourism in Ukraine

The war has led to an 85% drop in inbound tourism, which will lead to a decline in revenues of more than $1 billion by 2024 and more than $12.7 billion by 2030. Prior to the outbreak of full-scale war, Ukraine’s tourism sector was on a path of steady growth, contributing $1.6 billion to the national economy and providing 1.2 million jobs.

The war undermined this progress, but with coordinated recovery efforts and targeted international investment, the sector can rebound and once again become a vital engine of Ukraine’s economic recovery. Experts expect the total number of jobs in the sector to grow to 1 million by 2034. The volume of suspended foreign and domestic private investment is estimated at tens of billions of dollars. Currently, the sector’s priority is to develop domestic tourism.

Experts’ recommendations for promoting post-war revival include investing in the restoration of war-damaged monuments and hospitality facilities; focusing on energy-efficient and green projects; and retraining workers.