Travel and COVID-19

Since the introduction of COVID-19 vaccines last winter, the travel industry has been navigating a recovery after its revenue dropped by nearly 50 percent in 2020. The beginning of this summer was a time of increased travel, especially domestic leisure travel in the United States, Europe and elsewhere. But the emergence of the virus' Delta variant delivered another setback, causing people to cancel or postpone trips once again and prompting many destinations to enact fresh restrictions on movement and requirements for mask-wearing. The recovery of international travel continues to lag, due mainly to border closures and entry restrictions, including vaccine, testing and quarantine requirements that can change quickly, causing uncertainty and higher financial costs. The pace of business travel also remains slow, and experts are divided on how soon it will revive. While studies do find pent-up demand for travel, the industry is facing a world in which consumers' lives, demands and spending habits have changed.