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Many people are still finding a way to take a summer holiday, usually within driving distance. But globe-trotting as we once knew it is unlikely to restart any time soon. What we are seeing is the demise of an industry that has supported many other sectors. I suspect that once vacation season has come and gone, we will see ramifications that stretch far beyond the travel and tourism business itself. The fact that people are not travelling affects real estate, too. The value of global real estate is greater than that of stocks and bonds combined.

 rana.foroohar@ft.com

 https://www.thetimepress.com/international-economy/tourisms-collapse-could-trigger-next-stage-of-the-crisis/