2 Stocks to Look at for the Post-Pandemic Travel Boom
2020 has been, to put it lightly, a terrible year for travel stocks. McKinsey projected in October that global tourism revenue may fall to $2.1 trillion in 2020, a 50% haircut from 2019. It also predicts tourism spending will not get back to 2019 levels until 2023 at the earliest. However, in November we got some news that may alter these estimates: three potential COVID-19 vaccines, all with 90% or more effectiveness, that could be ready by the middle of 2021.
A distributed vaccine combined with pent-up demand from a year's worth of quarantining may be just what the doctor ordered for downtrodden travel stocks. Two companies, Booking Holdings (NASDAQ: BKNG) and Alaska Air Group (NYSE: ALK), are ready to benefit from this change.
Image source: Getty Images.
Source Fool.com
