Heard on the Street: Tourism is showing little impact from the new Covid-19 variant, but there are signs it is further delaying business-travel recovery
a California-based business-spending management firm, suggests that corporate travel expenditures have dropped. While this is always the case during the holiday period, there was a clear Omicron hit in the timing of advanced purchases. These were previously happening 17 days before departure, on average, which was in line with pre-pandemic levels. Now, they have fallen to 16 days, at a time of year when they usually jump as companies schedule next year’s events—it was 28 days in 2019.
It makes sense that firms planning to do in-person events in early 2022 for the first time since the onset of the pandemic are now scrapping them for fear of low attendance, or are facing pushback from employees who are less eager to take risks in their professional lives. London’s Heathrow Airport, which is particularly exposed to the trans-Atlantic business market, warned Friday that it is seeing a lot of cancellations.
A growing number of studies indicate Omicron is more resistant to current vaccines than previous Covid variants, though boosters seem to help. WSJ’s Daniela Hernandez gets an exclusive look inside a lab testing how antibodies interact with Omicron. Photo illustration: Tom Grilloto make money, have been here before: The Delta variant didn’t have a huge effect on tourism, but ended up delaying the business recovery expected for the fall. The Dow Jones U.S.
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