Global tourist industry faces struggle ‘for well over a year’
Travel stocks came under pressure in London this morning as wider economic tensions between the United States and China suppressed global markets. Analysts raised the prospect of tourism taking well over a year to fully recover to pre-pandemic levels, knocking shares in leading airlines, cruise companies and hotel chains. Intercontinental Hotels Group was among the largest fallers, declining by 5.7 per cent, or 201p, to £33.42, after Deutsche Bank predicted that demand could “take some time to revive”, meaning that a full recovery “could well be into 2021 and beyond”. “While the broader market seems to be factoring in a…
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