Travel, leisure and transport stocks were some of the biggest decliners in the market on Monday after a new variant of the coronavirus in the South East of England forced the UK government to introduce fresh lockdown measures.
British Airways owner IAG (IAG.L) slumped as much as 16% after the opening bell, with jet maker Rolls-Royce (RR.L) not far behind, down 14% in early trade.
Shares recovered slightly during the day but still ended firmly in the red. IAG and Rolls closed 8% and 3% lower, respectively.
EasyJet (EZJ.L) dropped 7% and Ryanair (RYA.L) lost 5%, while cruise-ship operator Carnival (CCL.L)
For the vast majority of human history, tourism didn’t exist. Only in the last half a century or so, since the rise of the middle class and since aviation has joined almost every dot on the map across the planet, has leisure travel become the industry giant it is today.
More than 330 million jobs worldwide depend on it; contributing to about ten per cent of global GDP. In some countries, it is much more; the Carribean being the starkest example.
In the island nation of Antigua & Barbuda, 91 per cent of employment was in the travel and tourism industry last year – the highest share in the world, according to the World Travel & Tourism Council (WTTC).
Beyond the Caribbean, the Chinese casino enclave of Macau is next, with 66 per cent of jobs relying on tourism; followed by the Maldives (60 per cent) and
The government has announced a list of countries and territories where Britons will be able to go on holiday this summer without quarantining.
From 10 July, those travelling from 59 approved destinations into England, Wales and Northern Ireland and 57 countries into Scotland are exempt from the mandatory 14-day self-isolation period imposed on all inbound arrivals. (The lists are currently identical barring two omissions from the Scottish one: Spain and Serbia).
Alongside this, the Foreign Office (FCO) has published a separate list of destinations where it has now lifted its blanket advice against all non-essential international travel.
While the lists are not the same, there is an overlap of 46 countries for Scotland and 48 for the rest of the UK. For those looking to travel to one of the places where both elements of the “double lock” have been scrapped, there is another
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