Two years after the WHO declared Covid a pandemic, here are five charts that show much — or how little — the world has recovered.
Higher oil prices are likely to dampen demand, though that would not be related to the pandemic.The travel industry was hit particularly hard by the pandemic since many countries closed their borders and encouraged residents to stay home as much as possible.
Weekly seat capacity dropped drastically before recovering, but is still far off from the average in 2019, according to global travel data provider OAG. "Global weekly seats will be 82[million] and overall capacity is sitting at 23% below the same week in 2019, the company said in an update on March 7.According to CNBC calculations, the average weekly seat capacity in 2019 was 110,716,079.Lockdown measures led to job losses around the world. In the United States, the unemployment rate spiked to 14.7%, a post-World War II record.
According to data from the Bank of International Settlements, government debt-to-GDP ratios climbed and are still higher compared with pre-Covid times.
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