WSJ describes tourism as last hope for European economy

European countries will have to rely on tourism due to the impact of anti-Russian sanctions on the economy. About Writer Wall Street Magazine.

“Europeans hope this summer that the pandemic will not interfere with the rest of the people, and this can stimulate the economies of southern Europe,” the article said.

Analysts thought Europeans might abandon long-term purchases in favor of beach vacations. This may be because coronavirus restrictions are being relaxed and people are missing resorts they haven’t been to for two years due to the pandemic.

The WSJ wrote that Europe was also affected by the bans on Russia’s purchase of European products. Moreover, the purchasing power of the population is falling sharply as prices continue to rise while salaries remain the same. At the same time, energy prices rose almost 40%.

May 7 Telegram knowledgeableHe said that the tourism sector in some European countries has been severely affected due to the sharp decline in the number of Russian travelers. The material gave examples from Cyprus, Italy, Montenegro, France and the Czech Republic. They also noted that tourists from Russia often spend a significant amount of money during their holidays in Europe.



Source: Gazeta

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