![]() ![]() New barriers that have shot up on the once-open borders of the European Union might prove far more difficult to take down. land borders with Mexico and Canada fell in April to their lowest levels on record. It threatens cultural exchanges, such as the semester- and year-abroad programs that send hundreds of thousands of American students overseas each year, now suspended, postponed or canceled.Īcross the globe, third- and fourth-tier cities - Cordoba, Argentina Krakow, Poland Austin - face a long, slow climb back to full connection with the wider world.īut this is about more than just air travel. But the collapse of travel endangers not only airlines and hotels - it also threatens conservation efforts in places such as Namibia, for example, where tourist dollars allowed a poor nation to maintain vast natural preserves for the world’s largest population of black rhinos. Compare that to the Great Recession of 2009, when arrivals dropped only 4 percent, or the SARS pandemic of 2002, when they fell 0.4 percent.Ĭhile’s LATAM, Colombia’s Avianca, Virgin Australia and Britain’s Flybe airlines have all declared bankruptcy. Other measures include quarantine or self-isolation for 14 days, visa measures, or requesting medical screenings/certificate before or after arrivalĪnalysts now project a record year-over-year drop in international tourist arrivals of as much as 80 percent. In April, international air passenger travel fell to levels not seen since the 1970s.ĭata as of June 15. The pandemic has impacted global travel like no other event in history: By spring, every country in the world had thrown up some sort of entry restriction, according to the United Nations World Tourism Organization. Passenger numbers suggest what happens when the world freezes in place. Yet even as rebounding stocks and reopening businesses suggest a desire for a rapid return to normality, the way we travel, work, consume, invest, interact, migrate, cooperate on global problems and pursue prosperity has likely been changed for years to come. The pandemic’s substantial but relatively shallow hit to shipping, as compared to travel, show a world of people, companies and countries still prepared to do business with one another. The decade that followed saw a resurgence of protectionism global trade patterns and foreign direct investment never really got their groove back.īut that might be nothing compared to what comes next.įew are suggesting a complete unwinding of globalization. The Great Recession of the late 2000s, when frantic over-borrowing by people and governments, combined with cheap, easy and toxic financial instruments and weak regulation, led to a collapse that hollowed out personal savings and national reserves. The golden era of globalization brought prosperity, but it also brought hubris. “It’s a corrosion of globalization, but it’s also an acceleration of a realignment that was already happening.” “The pandemic has made it so that you now have an additional excuse to block human-to-human contact and intellectual and economic exchange,” Posen said. “In the absence of warfare between major powers, we have never seen anything like this,” said Adam Posen, president of the Peterson Institute for Economics in Washington. Or leave the airport for a free tour of the ethereal towers of the city-state at the center of the world’s financial and trade systems.īut like fire through Notre Dame, the coronavirus pandemic of 2020 has now silenced this cathedral of interconnectedness - turning Changi into an emblem of what analysts say could now be a lost decade of travel, trade, investment and migration as decades of globalization give way to a new era of global distancing. Wander up to a rooftop swimming pool and plane spot. You could linger at the airport’s Changi Jewel, with its jungle canopy and 131-foot Rain Vortex, the world’s tallest indoor waterfall. Millions of passengers each month rushed to and from destinations throughout the world via the most advanced travel experience on Earth - traversing Changi’s new $1 billion terminal meant checking in, dropping bags and boarding flights with just the touch of a few buttons. Not long ago, to step through the lushly planted Green Wall at Singapore’s Changi Airport was to walk into an ever-more-globally connected future. ![]()
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