Covid vaccination charge forward of Nov tourism reopening

Tourist sitting on a swing on a beach in Thailand.

© Marco Bottigelli | Moment | Getty Images

Next Monday, Thailand will lift quarantine restrictions on travelers from more than 40 countries who have been fully vaccinated – even though less than half of its population has been fully vaccinated. // Added mention of travelers who need to be “fully vaccinated”

According to Our World in Data, only about 42% of the Thai population had been fully vaccinated against Covid-19 by October 27. In comparison, other countries in the region such as Cambodia, Malaysia and Singapore have had more than 70% of their population fully vaccinated against Covid.

The three Southeast Asian nations as well as Australia and China are there Thailand’s List of Approved Countriesas the country prepares to reopen to tourists on November 1st.

After this First announcement of the plan by the Thai Prime Minister in early October, Bank of America economists said it was good news for Thailand’s tourism sector, economic recovery and currency – but they found it was “not without risk.”

As has been shown in the other countries, the vaccination rate, especially in the Delta variant, is far too low to prevent an outbreak.

“Despite an impressive and admirable vaccination effort, full vaccination remains relatively low and inconsistent,” said the economists. “As can be seen in the other countries, the vaccination rate, especially for the Delta variant, is far too low to prevent an outbreak.”

Still, they said a lockdown is unlikely, given the country’s high risk tolerance, unless the capacity of the country’s intensive care unit is overwhelmed.

Due to uneven vaccination rates across the country, the data available may not clearly reflect vaccination rates in places like the capital, Bangkok. The Deputy Governor of the Bangkok City Council recently told Singapore-based media company CNA that 75% of the residents were vaccinated with the second dose.

The importance of tourism to Thailand

Among the economies in the region, Thailand is one of the most tourism-dependent economies, with the sector accounting for around 21% of GDP in 2019, according to Sian Fenner of Oxford Economics.

“Travel restrictions come with enormous economic and social costs and are a major reason Thailand’s economic recovery is lagging behind many of its competitors in the region,” said Fenner, chief Asian economist for the global consultancy.

… we do not expect domestic travel to fully recover to pre-Covid levels until 2025.

Sian Fenner

Senior Economist, Asia, Oxford Economics

“We believe that the government’s reopening of the borders, even though only about 40% of the population is fully vaccinated, reflects the country’s significant reliance on foreign tourists,” said Charnon Boonnuch, an economist at Nomura.

According to the government, the Thai economy grew by 7.5% year-on-year in the second quarter. This level of growth lagged behind other regional economies such as Malaysia, Singapore and the Philippines, which grew between 11.8% and 16.1%.

Oxford Economics is forecasting GDP growth of 1.8% for Thailand this year for the full year, while Nomura is forecasting Thailand’s GDP growth of 0.6% in 2021.

International travelers are not expected to return immediately, however, as visitors may still face quarantine regulations in their home countries, according to economists.

“We expect incoming tourism to recover in 2022, but even then we still expect international arrivals to be 66% below 2019 levels,” said Fenner. “In fact, we don’t expect domestic travel to fully recover to pre-Covid levels until 2025.”

Meanwhile, Bank of America economists highlighted that Chinese tourists – who made up about a quarter of Thai tourist arrivals in 2019 – are not expected to return until the latter half of 2022.

China has largely closed its borders to international travel since last year and continues to have a strict zero-covid strategy that has resulted in mass lockdowns, even with few infections reported.

Other parts of Southeast Asia are also looking to reopen their borders to international visitors, which, according to Nomura’s Boonnuch, has likely contributed to Thailand welcoming tourists again.

“The need to reopen has also increased due to increased competition from neighboring countries that have relaxed border rules, such as Singapore, which has a much higher full vaccination rate of 85%,” he said.

Singapore has announced vaccinated itinerary agreements with several countries including the US and UK, while Malaysia’s Tourism Minister told CNBC last week that the Country could reopen its borders to international tourists in November.

Correction: This story has been updated to accurately reflect the Bank of America note came out in early October following the Prime Minister’s announcement.

House tourism market has ‘room for 20’ firms

Sir Richard Branson may be trying to be the first in the billionaires race, but he believes the market has plenty of opportunities for businesses like. offers Virgo galactic, Jeff Bezos’ Blue origin, or Elon Musks SpaceX.

“There’s room for 20 space companies to get people there,” Branson said in an interview this week. “The more spaceships we can build, the more we can bring the price down and the more we can meet demand, and that will happen in the years to come.”

Virgin Galactic is in charge of predicted that “around 2 million people can experience” Space flights priced between $ 250,000 and $ 500,000.

The companies are Branson, Bezos and Musk every flying spaceship that can carry passengers, but in different ways. Blue Origin and Virgin Galactic are competing to take passengers to the edge of space on short flights – a sector known as suborbital tourism – while SpaceX drops private passengers on additional, multi-day flights – what is known as orbital tourism.

A SpaceX orbital flight costs tens of millions of dollars compared to the cost of Virgin Galactic of hundreds of thousands of dollars.

As Blue Origin’s New Shepard rocket launches vertically from the ground, Virgin Galactic’s SpaceShipTwo system is deployed in the air and returns to Earth like an airplane for a runway landing.

SpaceX launches its Crew Dragon spacecraft to orbit on its reusable Falcon 9 rocket has so far sent 10 astronauts on three missions to the International Space Station. In addition to government flights, Musk’s company plans to launch several private astronaut missions in the coming year – starting with the purely civil Inspiration4 mission that’s planned for September. SpaceX is also launching at least four private missions for Axiom Space, from the beginning of next year.

“There’s never been a time as exciting as now in space … it’s a moment when I pinch myself,” said Branson.

The growing space business

Astra VP of Manufacturing Bryson Gentile (left) and CEO Chris Kemp remove a protective cover from a missile fairing half.

Michael Sheetz | CNBC

Virgin Galactic was the first youngest generation space company to go public in 2019 through a SPAC or special acquisition company. This has developed into a trend over the past year, with a number of companies announcing upcoming deals and closing them public.

Rocket builder Astra and satellite broadband focused AST & Science each started trading with companies Missile laboratory, Spire Global, Black sky, and Momentum expected to follow in the coming months.

When asked if he thought the space market was growing too fast, Branson rejected the idea.

“I don’t think there’s overheating,” said Branson. “I think the space world is just beginning.”

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Evers broadcasts greater than $140M for tourism, leisure industries | Free

LAKE GENVA – Governor Tony Evers announced over $ 140 million in grants to businesses and organizations that play an important role in the Wisconsin tourism and entertainment industries. The new scholarship programs will be invested in industries hit hard by the COVID-19 pandemic, including live venues, cinemas, summer camps, minor league sports, and the hospitality industry. Additional investments will be made in reopening historic sites in Wisconsin and in marketing support for the Wisconsin tourism industry.

“Wisconsin is recovering faster than ever,” said Evers. “Whether it’s an urban or rural destination, these investments will help local venues and businesses emerge from this pandemic and are ready to welcome people from communities in Wisconsin and across the country. Wisconsin is the best place to live, play and work, and investing in companies that promote culture and entertainment in our communities will pay off for Wisconsinites and communities in our state. “

“I am grateful to Governor Evers for his commitment to tourism, one of Wisconsin’s largest industries,” said Anne Sayers, interim secretary for the Department of Tourism. “From leisure travelers looking to reconnect with friends and family to business travelers attending meetings and conventions, these dollars will be critical to helping our industry recover. We can’t wait to help more travelers discover the unexpected in Wisconsin. ”

The investments announced by Evers include:

  • $ 75 million for housing grants
  • $ 11.25 million for cinemas
  • $ 12 million for small businesses at live events
  • $ 2.8 million for minor league sports teams
  • $ 10 million for live events
  • $ 15 million for destination marketing organizations
  • $ 8 million for summer camp
  • $ 1 million for the Wisconsin Historical Society in support of reopening historic sites and
  • $ 7.5 million to increase marketing support for the Wisconsin tourism industry

These investments are funded by the American Rescue Plan Act of 2021 (ARPA) and managed by the State Department of Administration and the Department of Revenue.

“Reg. Evers’ investments in Wisconsin make a difference for small businesses, organizations and all Wisconsiners, “said DOA Secretary Joel Brennan. “Last year local venues kept their doors closed to protect their communities. Now that nearly half of all Wisconsinites have received at least one dose of the vaccine, life is returning to normal – smaller league ball games welcoming families, theaters reopening, and concert venues booking new shows. These investments will ensure our communities recover more strongly than before. “

Journey.com, AirAsia and Oyo on tourism restoration from Covid

Increasing vaccination rates for Covid-19 will help fuel the recovery in the travel and tourism industries, a panel of experts told CNBC.

Vaccinations are the only comprehensive way to combat the effects of the coronavirus, said Ritesh Agarwal, CEO and founder of Indian budget hotel chain Oyo Nancy Hungerford during the virtual CNBC Evolve Global Summit On Wednesday.

The global travel and tourism sector was hit hard last year and many airlines are still struggling to stay afloat. The coronavirus pandemic has closed borders and suspended most international travel. With vaccination rates increasing, especially in the West, many countries are slowly opening their economies and borders.

“I believe travel is here to stay. Domestic travel will lead to recovery, but vaccination is the only comprehensive and conclusive solution,” said Agarwal.

Oyo, op SoftBank-supported start-up has more than doubled its daily bookings for the summer season in Europe, where vaccination rates are relatively high, said the CEO.

Travelers tend to book rooms at hotels where staff have been vaccinated, he said, adding that Oyo issues certificates that prove their employees have been vaccinated, Agarwal said.

Asia’s vaccination campaign

In terms of vaccination rates, some of the more populous countries in Asia have lagged behind their counterparts in Europe and the US.

Information compiled through scientific online publication, Our world in data, showed that by June 15, 40% of North Americans had received at least one dose of Covid vaccine and 36% in Europe. In comparison, in Asia only 21% received at least one vaccination, although vaccination rates are increasing in the region.

AirAsia Chief Executive Officer Tony Fernandes said he remains very optimistic about vaccination rates, especially in Southeast Asia.

“The distribution is there, the demand is there and now the supply is going to be constant,” he said, adding that he expects most of Southeast Asian countries to reach 60% vaccination rates for a first dose by September.

I believe travel is here to stay. Domestic travel will lead to recovery, but vaccinations are the only comprehensive and conclusive solution.

Ritesh Agarwal

CEO and Founder, Oyo

But he’s less optimistic about the possibility of one internationally recognized vaccination certificate – a digital app on a smartphone that can access a person’s health data to confirm whether they have been vaccinated against Covid-19.

Support for digital health passports is split. Critics point out concerns about how secure an individual’s data will be as third-party apps communicate with databases that contain sensitive personal health information.

What the travel industry needs, however, is uniform regulation, according to the head of the low-cost airline.

On the first day of the Dragon Boat Festival on June 12, 2021 in Wuhan, Hubei Province in China, passengers crowd at the Wuhan Railway Station.

Zhao Jun | Visual China Group | Getty Images

“If you have two vaccines, you don’t need a quarantine. That seems to be different from country to country, ”he said. Nations should also accept all vaccines approved by the World Health Organization, Fernandes added.

Important trends among travelers

Domestic travel is already on the rise in countries like China, which have managed the pandemic relatively well. Cases have remained comparatively low while the vaccination rate has increased.

Millions of people rushed to travel last month during a five-day Labor Day holiday in the country as bookings for hotels, car rentals, and other travel skyrocketed.

Jane Sun, CEO of China travel booking website Trip.com, said she was looking forward to a strong rebound in domestic travel in China. “We saw a lot of catching up to do with the data on our search volume,” she said.

Sun stated that three trends can be seen among those who have been traveling again since the pandemic began.

First, they book more with hotels, airlines, and local operators who provide masks, hand sanitizer, and other security measures. Second, people are now traveling in much smaller groups. Finally, they choose flexible packages that allow them to change, cancel or postpone their trips.

AirAsia’s Fernandes agreed that the current situation required operators, including low-cost airlines, to adapt and offer travelers more flexibility – even if it was not a sensible business choice.

“There’s too much uncertainty,” he said, adding that the airline may bring back some of its older, stricter policies once it becomes safer to travel.

As Tourism Returns, Lean On Leisure & Leisure with ‘PEJ’

Tourism is increasing worldwide, making way for leisure and entertainment spending, which should help that Invesco Dynamic Leisure and Entertainment ETF (PEJ).

China is already seeing an increase in its tourism activity as the ongoing trend towards vaccination helps ease fears of rising Covid-19 cases.

“China recorded more than 89 million domestic tourist trips during the three-day Dragon Boat Festival, an increase of 94.1 percent over the previous year, the Ministry of Culture and Tourism announced on Monday.” CGTN article explained. “Tourism revenue reached 29.43 billion yuan ($ 4.6 billion), an increase of 139.7 percent over the previous year, the department said.”

Opening of the USA to international travel

Meanwhile, the US plans to work with other countries to resume international travel. This should give further tailwind to spending on leisure and entertainment.

“The United States is forming expert working groups that will make plans to resume international travel to several key destinations including Mexico, Canada, the United Kingdom and the European Union,” said a Articles on traveling off the beaten track. “While some countries allowed American travelers during the pandemic, for many, the US did not reciprocate. This article looks at the current situation between these countries and the US plans to resume international travel.

PEJ is based on the Dynamic Leisure & Entertainment Intellidex® Index (Index). The Fund will typically invest at least 90% of its total assets in common stocks which make up the Index.

The Index is designed to provide capital appreciation through a thorough valuation of companies based on a variety of investment quality criteria including: price momentum, earnings momentum, quality, management measures and value. The index is made up of common stocks of 30 US leisure and entertainment companies.

Advertising spending is increasing

In order to win customers again after the pandemic, many companies are spending more on advertising. The entertainment industry is just one of those industries.

To New York Post articleMedia investment and news company Magna said advertising growth will be driven by the macroeconomic recovery, with global gross domestic product up 6.4 percent in the first quarter of 2021. Sectors such as automotive, travel, entertainment and restaurants have thanks thanks to international sporting events such as the upcoming Olympic Games and the European Football Championship. “

“As the economic recovery in several of the world’s largest advertising markets, particularly the US, UK and China, is stronger and faster than expected and consumption accelerates, brands need to reconnect with consumers,” said Vincent Létang, executive vice President of Global. at MAGNA market research.

More news and information can be found on the Innovative ETFs channel.

Vaccine journey offers? Russia plans packages to revive tourism trade

Tourists walk along Red Square in front of St. Basil’s Cathedral in Moscow on November 6, 2020.

ALEXANDER NEMENOV | AFP | Getty Images

With Russia’s coronavirus shot Sputnik V sluggishly received among its own citizens, Russia is considering launching travel packages for Covid vaccinations for tourists.

Russian state news agency Tass quoted one of the country’s tourism industry leaders as saying the “vaccination tours” were ready, but visas and entry requirements for foreign visitors were holding them back.

“The product is ready, but the issues of visa support and legal entry for foreigners who want to get the Russian vaccine have yet to be resolved,” Andrei Ignatyev, president of the Russian Union of Travel Industry (RUTI), told Tass.

The price for a three-week vaccination tour for foreigners will be anywhere from $ 1,500 to $ 2,500, excluding the airline’s expense, Ignatyev added.

Vaccine prices seem to have the blessing of Russian President Vladimir Putin. Speech last week at the St. Petersburg International Economic Forum (SPIEF)Putin instructed the government to examine the possibility of offering foreign visitors to Russia chargeable Covid vaccinations.

Russia wants to revive its tourism industry as it seeks an exit the Covid pandemic. Like other countries in the area, Russia introduced entry restrictions for almost all foreigners (with the exception of some workers) last March, which brought tourism to a standstill. Since then, entry restrictions have been relaxed if visitors present negative Covid tests before traveling.

Immunization tourism could prove popular for people in countries struggling to get their own immunization programs off the ground. The Times of India reported last month that a travel agency based in Delhi offered a 24-day package tour to Russia that included two sputnik-V vaccines and a 21-day interval to allow sightseeing between vaccinations.

Slow domestic recording

Russia was the first country in the world to approve a coronavirus vaccine – its own Sputnik V – last August, but despite its rapid approval and rollout, domestic uptake of vaccination has been sluggish.

According to data compiled by Our World In Data, only 9% of the adult population are fully vaccinated so far, placing Russia behind Brazil, India, Turkey and Mexico in terms of vaccination progress.

Target market

In Europe, more than 23% of adults are now fully vaccinated, according to Our World In Data. Russia will therefore look for potential vaccination tourists in the distance, said Ignatiev.

“The countries of Africa and Latin America have shown great interest in such a tourist product throughout the vaccination campaign in Russia, and RUTI has received such inquiries,” he added, according to Tass.

End of May, Putin announced that Russia would not make Covid vaccines mandatory for its citizenssays people should see the need for vaccination for themselves. He also stressed that the vaccine was safe; According to peer-reviewed results from its late-stage clinical study, Sputnik V was found to be 91.6% effective in preventing the development of Covid-19 published in the medical journal The Lancet in February.

“I would like to emphasize again and appeal to all of our citizens: think carefully, remember that the Russian vaccine – practice has already shown that millions (of people) have used it – is currently the most reliable and safest. ” “Said Putin. “In our country, all the conditions for a vaccination are in place.”

A survey by The Russian polling center Levada, published in March, found that 62% of people did not want to receive the vaccine, with the greatest reluctance among 18- to 24-year-olds.

New Orleans Tourism and Cultural Fund to roll out grants for leisure venues on Monday

NEW ORLEANS (WGNO) – Entertainment venues in the ‘Big Easy’ can apply for financial relief starting Monday 17th May.

The New Orleans Tourism and Culture Fund announced the start of a scholarship program that will provide $ 600,000 to fund musicians and artists struggling amid the coronavirus pandemic.

The grants will be distributed to individuals and venues by June 30th or until funds are exhausted.

CLICK HERE TO APPLY FOR THE NEW ORLEANS TOURISM AND CULTURAL FUND grant

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