Tourism Will See An Uneven Recovery

• The tourism sector, one of the industries that suffered most during the pandemic, will be an increasing driver of economic recovery in 2022. 
• However, Fitch believes that the recovery will be uneven, particularly for economies that depend heavily on tourism. It is expected that most Western consumers’ willingness to travel will rise in 2022 as household balance sheets remain strong and as restrictions continue to ease. 
• But Fitch also expects that demand will be focused on short-haul destinations. This will benefit markets in the Caribbean and Southern Europe.

(Source: Fitch Solutions)