Aviation, Travel and Tourism

The spread of COVID-19 in 2020 resulted in the worst year in tourism history, according to the World Tourism Organization. International arrivals declined by 74%, putting as many as 120 million tourism-related jobs at risk. Following a steady rollout of vaccines and other preventive measures, international tourism rebounded to nearly 60% of pre-pandemic levels in the first seven months of 2022. However, an uncertain global economic environment, due in part to Russia’s invasion of Ukraine, poses a major threat to the industry’s recovery.