If your passport is still collecting dust, you’re hardly alone. A full recovery for the tourism industry was never expected in 2021—most estimates peg a return to “normal” by 2024. But the current travel economy varies greatly depending on what region you’re looking at.
The Caribbean, for instance, is “recovering at a faster rate than any other region in the world,” shows an October study from the World Travel & Tourism Council. That’s a relief after years of rebuilding following hurricanes Irma and Maria in 2017. Travel’s contribution to global GDP rose 30% in 2021, on average, from 2020. In the Caribbean, that figure was 47%, a difference of $12 billion for local economies. If that continues, the region could surpass its record-setting 2019 by next year.
The U.S. is also faring better than expected. Models from STR, a hospitality data and analytics company, have bumped the timeline for its travel recovery up a full year, to 2023, even though international tourism resumed only in November.
Denne historien er fra December 20, 2021-utgaven av Bloomberg Businessweek.
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Denne historien er fra December 20, 2021-utgaven av Bloomberg Businessweek.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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