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.
Bu hikaye Bloomberg Businessweek dergisinin December 20, 2021 sayısından alınmıştır.
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Bu hikaye Bloomberg Businessweek dergisinin December 20, 2021 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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