One of the primary public interventions that have been deployed to contain the virus is restrictions on mobility, both within and across countries. Of the different sectors affected by Covid-19, tourism has suffered most acutely from the crisis, travel and tourism had become one of the most important sectors of the world economy, accounting for 10% of global GDP, and over 320 million jobs worldwide prior to the pandemic. The collapse of international tourism is part of a larger drop in global trade in services, mainly curbed by low consumer confidence and travel restrictions.
Key learning objectives:
How has the pandemic impacted the travel industry?
What can vaccine distribution on a global scale do to mitigate its effects?
What are the challenges for the industry going forward?