Travel

• [New] The forecast for 2021 and 2022 EIA forecasts that some mandatory and voluntary travel restrictions will still be in place in the first half of 2021 amid a resurgence in COVID-19 cases as of late-2020, although the level of restrictions and their duration is highly uncertain.
• [New] A new Chinese carrier rocket has made its first flight today, paving the way towards China's ambitious mission of sending travellers into space by 2045.
• [New] The tourism-dependent economy of Montenegro suffered the worst contraction in the Western Balkans in 2020 and will make only a partial recovery in 2021.
• [New] South Korea aims to cut some 30% of carbon emissions from railway travel by replacing all diesel passenger locomotives with a new bullet train by 2029.
• [New] The proceeds from the UKEF facility will be used to enhance liquidity and provide British Airways with the operational and strategic flexibility to take advantage of a partial recovery in demand for air travel in 2021 as Covid-19 vaccines are distributed worldwide.
• [New] Airbnb could see revenue bounce back in 2021 and beyond as more people receive the coronavirus vaccine and return to traveling.
• [New] Mass vaccination against coronavirus is underway in the UK, raising hopes of going on holiday later in 2021 without the need for travel corridors or quarantine.
• [New] BNP Paribas cites the Commission's forecasts of a 9% recession in 2020 and a 5% growth in 2021, with Derrien noting that since the Greek economy is heavily dependent on tourism, its recovery is expected to be weaker than that of other European countries in 2021.
• The global economy could strongly rebound in the second half of 2021 but sectors such as travel, tourism, leisure, and hospitality could take years to reach pre-virus levels.
• Despite the COVID-19 vaccines and testing procedures rolling out worldwide, the recovery of demand for air travel would take several years and would not reach the pre-crisis levels before 2024.
• Trade group the International Air Transport Association only forecasts a 2021 recovery in air travel to about half of 2019 levels.
• Asian refining margins for jet fuel inched higher on Monday, but reimposed travel restrictions in several countries to slow the spread of a highly-infectious coronavirus variant is expected to dent passenger demand recovery.
• Vaccines should prevail and by mid-2021 there will be fewer travel restrictions, rising global demand for maritime transportation and need for ship handling services.
• In the United States, there has been a similarly lukewarm return to air travel, with the industry now not expecting a return to pre-COVID levels before around 2024.
• The Tourism and Transport Forum estimates the overall economic impact of cancelled travel to and from NSW due to the latest border closures will amount to a loss of $2.97 billion.
• Hanoi is expected to welcome 13.16-19.04 million tourists in 2021, up 45-65.5 percent as compared with the previous year.
• The International Air Transport Association, the lobby group of the world's airlines, said it would launch a digital health travel pass early 2021 that will include passengers' COVID-19 vaccination data.
• China appears likely to run a larger external surplus in 2021 relative to the previous year, even though global demand remains weak.
• The economic output of the world's service sector will dive a record 15.4% in 2020 to a level not seen in more than 20 years, UNCTAD said, due in large part to the loss of tourism, travel, and restaurant dining.
• In what will be seen as the most economical idea, Victoria Falls' city status could explain the United Nations World Tourism Organisation (UNWTO)' s Tourism Towards 2030.

Last updated: 16 January 2021