Experts: Travel industry could face challenges over Omicron variant concerns

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(WWLP) – Air travel may have increased over the Thanksgiving holiday, but experts are saying concerns over the Omicron variant of the coronavirus disease could cause challenges for the travel industry.

On Monday, the United States imposed travel restrictions on South Africa, where the variant was detected, and seven other Southern African nations. This came weeks following travel restrictions lifting internationally.

According to financial experts, the new restrictions negatively impacted airline stocks.

“If we have another shutdown I think then travel would become very difficult and we are already seeing it in the stock market,” said Mark Teed of Raymond James Financial. He explained, “A lot of those related stocks have already sold off pretty heavily in the last three or four days ever since that announcement so I think the market is still very worried.”

Cases of the Omicron variant have been found in several countries including South Africa, the United Kingdom, and Canada.

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