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Stay at home, traveller: Sanctions against Russia have helped cripple the global tourism industry

Posted On: Nov 27, 2022   |   Posted By: RT

Stay at home, traveller: Sanctions against Russia have helped cripple the global tourism industry

The price of tourism has risen several times in the face of the global economic crisis and Western attempts to weaken Moscow
International tourism is caught in a perfect storm caused by the simultaneous effect of the sanctions war unleashed against Russia and the associated increase in energy prices. That's added to an uncontrolled ultrasoft monetary policy and the subsequent surge in inflation. Meanwhile, added to the mix are the introduction of visa barriers and the desire to close borders, plus remaining quarantine restrictions in some of the world's key economies amidst the ongoing spread of viral diseases.
In a situation where it seems like things can't get any worse, numerous experts are increasingly warning that the global economy needs to prepare for difficult times. Given the situation, the simple joy of traveling may soon become a luxury, and international tourism, which has become a mass phenomenon in recent decades, could return to the status of a privilege for the elite.
The current geopolitical...

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