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Tourism recovery faces double whammy of Russia’s war, China’s covid policies
Russia’s invasion of Ukraine caused turmoil.
Western sanctions and corporate actions meant Russian credit cards didn’t work, sending tourists scrambling for cash to pay restaurant and hotel bills. As the ruble crashed, Russian vacationers invited friends to share their luxury villas and split costs. Many cut their trips short to avoid being stranded when Aeroflot, Russia’s largest airline, suspended nearly all international flights in early March. Those with hotel reservations canceled.
The war in Ukraine is hitting global tourism just as the industry tries to recover from a two-year battering during the pandemic. The revival was already slowed by uneven travel barriers in Asia, including Japan and, most prominently, China, which prepandemic accounted for 17% of the world’s international tourism expenditure, twice that of the U.S. Now,…
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