In January-July 2023, international tourism recovered by 84% from the pre-pandemic level of 2019, and an almost complete recovery of the industry is possible by the end of the year, according to the UN World Tourism Organization (UNWTO).
From January to July, 700 million tourist trips were made worldwide, 43% more than in the same period last year. July was the busiest month: 145 million tourist trips were made during this time, which is about 20% of the total for seven months.
“But as the tourism sector recovers, it also needs to adapt. Extreme weather events and overtourism emphasize the need to create a more inclusive, resilient sector to not only ensure the recovery of tourism, but also to redefine it,” said UNWTO Secretary-General Zurab Pololikashvili.
Among the regions of the world, the Middle East, Europe and Africa showed the best results of recovery over the past seven months. According to UNWTO, the Middle East received 20% more tourists than in 2019. European countries have recovered by 91%, driven by strong demand for travel among residents of the region and US citizens. In Africa, the number of tourists reached 92%, in America – 87% of the level of 2019.
In the Asia-Pacific region, the recovery accelerated and reached 61% of pre-pandemic levels after many destinations reopened in late 2022 and early 2023.
“The results show that international tourism is still on the right track and will reach 80-95% of pre-pandemic levels by 2023. The recovery will continue in September-December, albeit at a more moderate pace due to weak demand and a lack of air routes, especially in the Asia-Pacific region, where recovery is still at a moderate level,” the organization explained.
The UNWTO expects that the opening of China and other Asian destinations will continue to stimulate travel both within the region and to other parts of the world.
At the same time, the difficult economic situation continues to hamper the recovery of international tourism in 2023. Persistent inflation and rising oil prices have led to higher transportation and accommodation costs. This may affect tourist spending in the remainder of the year as they increasingly seek value for money, travel closer to home, and take shorter trips.
Change in consumer prices in July 2023
Source: Open4Business.com.ua and experts.news
Passengers have bought 183,500 bags of Gemini tea worth over UAH 3.6 million on Ukrzaliznytsia (UZ) trains, of which UAH 1 million will be used to purchase Ukrainian FPV drones Hrom, Minister of Digital Transformation Mykhailo Fedorov said on his Telegram account.
“Everyone who travels by train can help the Defense Forces. To do this, you need to buy Gemini tea. Part of the funds from each bag will be used to buy drones for the military,” the minister emphasized.
UZ noted that such tea can be ordered in the app, chatbot, or on the website, as well as directly on the train (except for Intercity+). The cost of the drink is UAH 20, of which UAH 5.5 from each bag goes to raise funds that will be transferred through the UNITED24 platform for the purchase of Ukrainian-made FPV copters “Thunder”. The cost of one such drone is UAH 21 thousand.
Farmers with more than 1,500 hectares of winter crops can insure their crops against war risks with a limit of indemnity from UAH 500 thousand to UAH 2 million in INGO Insurance Company until December 15, the company said in a statement.
“In the world practice, war risks are always included in the list of standard exclusions, and losses are not compensated,” the press release quotes INGO’s Director of Corporate Insurance Serhiy Krivosheev as saying. – “However, now in Ukraine we are ready to revise the rules to create more opportunities for farmers. We understand that not only the economic condition of the agricultural sector, but also many others depend on their success.”
Thus, INGO Insurance Company has expanded its standard winter crops insurance program, which provides protection against negative weather factors (extremely low temperature, ice crust, damping, drought, etc.), to include coverage of crop damage risks resulting from events that were a direct or indirect consequence of military operations.
The company assumes that this will “help agricultural enterprises maintain financial stability.”
It is noted that only winter crops of more than 1500 hectares, which are grown industrially and are located in the unoccupied territory or no closer than 50 km from the combat zone or the state border with Belarus and Russia, can be insured against military risks.
In the event of an insured event, INGO will compensate for the costs of sowing and growing crops damaged or destroyed as a result of military operations, including maneuvers, movement of equipment, construction of defensive structures, and demining costs.
“The company assumes reimbursement of such costs depending on the volume of insured crops with a limit of UAH 500 to 2 million,” the statement said.
According to it, the settlement of insured events for further compensation is carried out according to the standard procedure within 15 days from the date of submission of the necessary documents. A document confirming the fact of occurrence of such an event under military risks should be obtained from the military-civilian administration, the State Emergency Service or the National Police.
INGO Insurance Company has 30 years of experience in the market. Since 2017, the company’s main shareholder has been the Ukrainian business group DCH of Alexander Yaroslavsky.
The company holds 29 licenses for various types of compulsory and voluntary insurance, provides insurance services to corporate and retail clients, and is a full member of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU).
According to the National Bank, as of the middle of this year, INGO Insurance Company was the eighth largest in the market in terms of assets (UAH 3.28 billion). Its net earned insurance premiums for the first half of the year amounted to UAH 971.4 million, insurance payments and reimbursements – UAH 545.6 million, net profit – UAH 152.0 million.
Croatian Prime Minister Andrej Plenkovic said he does not intend to allow Ukrainian grain to enter the country’s domestic market, Politico reported on Tuesday.
“Croatia’s position and desire is that we are a transit country, not a country that will receive a huge amount of Ukrainian grain, which is cheaper than ours,” Plenkovic said.
According to him, imports of such products would lead to the fact that “our farmers would be in trouble.”
On September 15, the European Commission announced the termination of restrictive measures on the export of Ukrainian grain and other food products to the EU. Later, the authorities of Poland, Hungary, and Slovakia announced their own bans.
2022-2024 goods trade balance forecast (USD bln)
Source: Open4Business.com.ua and experts.news
