Summary of "Covid-19: why travel will never be the same"
The video discusses how the Covid-19 pandemic has drastically transformed global travel, with passenger numbers plummeting by up to 94% in early 2020 compared to the previous year. Although travel is slowly resuming, it is becoming more localized, restricted, and complicated, with significant long-term consequences beyond just canceled holidays. The tourism industry, which annually generates $1.6 trillion globally, has been severely impacted, causing economic hardship and threatening the viability of many airlines.
Passenger traffic remains far below pre-pandemic levels worldwide, with China recovering faster than the US and Europe. Business travel, a key subsidy for cheaper leisure flights, may not rebound fully, potentially leading to higher ticket prices and reduced affordability for lower-income travelers. Airlines are facing massive financial losses, job cuts, and risk of consolidation, which could reduce competition and increase prices on less popular routes.
Travel restrictions imposed by 189 countries vary widely, creating an uneven and potentially unfair system where some travelers, especially those with family or work ties across borders, face ongoing challenges. Governments are eager to reopen travel, but partial reopenings may exacerbate inequalities. The relatively free movement enjoyed before the pandemic was a modern phenomenon that supported globalization and economic growth; a return to restrictive border controls could hinder international cooperation and deepen divisions.
The rise in domestic tourism, such as an 80% share of Airbnb bookings being local in May 2020, could benefit the environment by reducing emissions from flights, which accounted for 2.4% of global fossil fuel emissions in 2018. However, the solution lies not in halting air travel but in innovating for greater efficiency and sustainability in aviation.
Overall, Covid-19 is reshaping global mobility, potentially increasing inequality and disrupting globalization rather than promoting economic growth as travel did in the past.
Presenter/Contributor:
- Leo Maroney, Correspondent on the Britain desk at The Economist
Category
News and Commentary
