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European Travel Could Stimulate Economic Recovery

It has been suggested since the start of June when some moves were made to get travel within Europe started again that it could be the catalyst for generating an economic recovery, and now that more recovery is being found this is seemingly becoming more apparent, but there are other factors that are going to be helping here too.

Photo by kavekostolo on Pixabay

Perhaps the biggest factor here is within the emergence of suggesting that a summer holiday will be something travellers can expect after many months of being told that any travel this year would be unlikely - this has led to a sudden surge of people looking to get away from the summer to at least experience some level of normality again, but it isn't all great news here. It had recently been announced that due to a travel downturn and a slower recovery than first anticipated, British Airways said it would be retiring its entire 747 Jumbo Jet fleet, the largest in the world at this time. These had been planned to be retired in 2024, but the pandemic has led to this being pulled forward due to the ongoing pandemic.

The next opportunity is coming back in the way of sporting events as European football is very much underway and we're starting to see other events such as Formula 1 starting to work its way around Europe too. There had been many suggestions that we wouldn't see any fans in attendance for sporting events this year but as time is going on it is starting to seem more likely that isn't true although limited numbers at first it is a step of progression that could lead to more travelling again too. If this step can be taken, we may start to see recovery in many of the supporting businesses such as hotels and restaurants too as many are still seemingly at risk as they must run at reduced capacity for the time being.

There are many that have been finding a great amount of success despite the ongoing pandemic too, with the most prominent being within mobile gaming operators as mobile gaming as a whole has continued to find surges in new users. One of the primary markets has been within online gambling, although online betting mostly ground to a halt as major sporting events found cancellation and postponement, the return brought about a huge surge in online betting across Europe, and despite changes in regulation such as found in Gamstop and the many advertising and deposit restrictions, a list of those not covered is continuing to grow as more users are turning back to this online alternative to stay entertained toward the remaining lockdown period.

There's still a long journey ahead for the European economic recovery, and other changes set to come as the UK continues to head towards its Brexit deadline so residents across Europe can expect to see a continued change over the coming months - but it will still take some time before the effects are fully realised.

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