Covid-19 briefing

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- ECONOMIC IMPACT -

Latest update: 19 May

The total number of Covid-19 vaccine doses administered has surpassed the total number of people infected by the virus, thanks to an inoculation roll-out that is unprecedented in scale and impact, following 163 million confirmed cases.

Gibraltar has become the first country in the world to reach herd immunity in the fight against Covid-19, and the Seychelles, Israel and the Falklands are set to reach the same golden threshold shortly, thanks to their vaccination programmes.

4,985

Promising clinical data continues to emerge from the 4,985 clinical trials for Covid-19.

101

If the present rate of vaccination continues, it will take 101 days to dose 85% of the adult population in the US.

Vaccination programmes are leading countries towards herd immunity

- SECTOR IMPACT: TRAVEL AND TOURISM -

Latest update: 16 May

INTERNATIONAL TRAVEL COSTS

$8.8bn

IAG, the owner of British Airways, reported a record £6.3bn ($8.8bn) loss in 2020 thanks to Covid-19.

€121bn

Italy lost out on an astonishing £105bn (€121bn) in travel and tourism thanks to Covid-19 restrictions.

IMPACT FOCUS: RENTAL INDUSTRY

Low tourist demand means many cars rental companies have been forced to sell their fleets in order to stay afloat during the Covid-19 pandemic.

Markets in which airport pickup is the largest channel, like the US, have particularly suffered, but the effect has been felt all over the world.

But as demand picks up, with more people traveling and supply still down, major price hikes are likely to be in store for anyone who wants to rent a car.

KEY TRAVEL AND TOURISM DEVELOPMENTS

G20 tourism ministers have agreed to back plans for so-called vaccine passports to rejuvenate the travel and tourism sector.

The sector is crucial for the economic recovery of many nations in the G20, which lost billions due to imposed travel and tourism restrictions. EU member states could reopen borders to travellers from countries with low infection rates, as well as those who are vaccinated against Covid-19.

This new strategy could be adopted soon, but until that strategy is finalised, domestic tourism will still remain an area of intense focus.

Lockdown measures have created a desire for people to travel and see something outside of their immediate environs, but with international travel still heavily restricted, combined with the slow rollout of vaccination programs in several markets, options are limited.

This has created interest for staycations, so many tourism boards have shifted their focus towards attracting visitors from their domestic markets, rather than abroad.