Wealthy countries are on the verge of a euphoric release, as COVID-19 vaccine distributions ramp up. But the rest of the world is staring at a potentially years-long effort to inoculate citizens. As such, it is not at all clear that we will ever return to the international community as it existed in February 2020. It’s always risky to predict the shape of the future from the vantage point of the present, but the pandemic may eventually be seen as the event that brought the second era of globalization, which began after World War II, to a decisive close.

Tourism was an enormous economic force before the pandemic, accounting for significant percentages of the economy both in small island destinations like Aruba and in larger countries like Greece, where more than 20 percent of jobs were in travel and tourism. Thanks to COVID-19, the United Nations’ World Tourism Organization reports that there were 1 billion fewer global travel entries…

Read more…

Share.

Comments are closed.