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We’re all going on a summer holiday (maybe) By Reuters


© Reuters. Tourists are seen at Stradun street in Dubrovnik


August conjures up images of beaches and sunshine but it may not bring much respite to travel and tourism stocks. Battered by lockdowns, tourism has lagged a broader market recovery, with airline, hotel and leisure shares 20%-50% lower year-to-date.

After an uptick since the start of August – Europe’s travel and leisure index has risen 7% – the lifting of a U.S. advisory against foreign travel and initiatives, such as Spain’s offer to cover travellers’ health costs, could provide some support.

But more is at stake than share prices – shrinking tourism may shave 3%-11% off countries’ GDP. And as stricken airlines and hotels lay off staff, mass unemployment is a potent threat.

Graphic – Summer hopes for travel and tourism stocks?


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Canada adds more jobs than expected in July; most were part-time positions By Reuters

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