Blog | SBI Card

Choosing the right blends for your fashion

May 15, 2020

7 min read

The shock from the stagnant travel industry, which accounts for 10% of the global economy, can ripple to the remotest corners of the world. Each time a person takes a trip, it sets off a domino effect of consumption that directs dollars to airlines, hoteliers, restaurateurs, taxi drivers, artisans, tour guides, and shopkeepers, to name a few. In all, the tourism industry employs 300 million people; especially in developing countries, these jobs can represent pathways out of poverty and opportunities for cultural preservation. Now a third of all tourism jobs are at risk, airlines around the world say they need as much as $200 billion in bailouts, and reduced travel expenditures both business and leisure puts the $1.7 trillion industry at risk.

While shelter-in-place orders vary from country to country and within each country, one aspect of recovery is consistent across the board: International travel will be among the last sectors to reignite. What will travel look like in the near term, and how will it evolve for good? Those are questions that affect us all, whether we’re itching to get back to work or simply to get going.