"Travel Bubbles" Emerge as Global Travel and Tourism Industry Seeks Reconnection

Strategic Insights -

With the global economy stalled due to the pandemic, countries are turning to "travel bubbles" to reconnect with other nations that have managed to contain the spread of the novel coronavirus. In Southeast Asia, where tourism was hit hard due to the virus's origin in China, countries such as Vietnam, Thailand, Singapore, and Malaysia are considering creating travel bubbles to revive their economies. In Europe, Estonia, Latvia, and Lithuania have launched the first "coronavirus travel bubble" in the continent, allowing residents to travel freely across each other's borders without self-isolation. Australia and New Zealand have also agreed to form a travel bubble between the two countries, while India is contemplating individual bilateral bubbles with several countries.

Key Takeaways:

  • The concept of "travel bubbles" aims to reconnect countries that have managed to contain the spread of the novel coronavirus and revive their economies.
  • The Association of Southeast Asian Nations (Asean) countries, including Vietnam, Thailand, Singapore, and Malaysia, are considering creating travel bubbles to revive their economies.
  • Estonia, Latvia, and Lithuania have launched the first "coronavirus travel bubble" in Europe, allowing residents to travel freely across each other's borders without self-isolation.
  • Australia and New Zealand have agreed to form a travel bubble between the two countries, allowing travel without a quarantine period.
  • India is contemplating individual bilateral bubbles with several countries, including the US, UK, Germany, and France.
  • Industry analysts recommend that restrictions on travel should be lifted in areas with a comparable epidemiological situation and sufficient capabilities in terms of hospitals, testing, surveillance, and contact tracing capacities.
  • Creating safe travel zones between countries is essential for speedy global economic recovery.
  • Travel bubbles are being touted as an idea being trotted out around the world as governments open their economies again.

Statistics:

  • The re-opening of travel and tourism industries through travel bubbles can account for around 35% of the global GDP (The Economist).
  • The Baltic countries of Estonia, Latvia, and Lithuania are expected to shrink by 8% this year due to the impact of the coronavirus pandemic (BBC).
  • The Association of Southeast Asian Nations (Asean) countries rely heavily on Chinese tourists for revenue, with tourism in the Asean being hit early due to the pandemic (VOA News).
  • Australia and New Zealand have seen a success in suppressing the pandemic domestically and reached an agreement to form a travel bubble between the two countries (early May, 2020).

Sources:

  • VOA News
  • BBC
  • The Economist
  • Pratap John (Business Editor at Gulf Times) Twitter handle: @PratapJohn
  • Provided by SyndiGate Media Inc. (Syndigate.info)