Recovery In Tourism Will Be Fastest In EM Europe And Caribbean, Slowest In Asia

• The tourism sector, one of the most severely impacted industries during the pandemic, will be a significant driver of economic recovery in 2022. 
• Fitch Solutions expects that most Western consumers’ willingness to travel will increase in 2022, but that demand will be focused on short-haul destinations in the Caribbean and Southern Europe. This will bolster the recovery across tourism dependent countries such as Jamaica, Barbados and Bahamas in 2022. 
• However, tight travel restrictions in China will depress visits to Asian destinations. The agency also expects that EMs like Thailand and the Philippines will experience a very slow, multi-year recovery. 

(Source: Fitch Solutions & NCBCM Research)