According to estimates by the United Nations World Tourism Organization, tourism destinations worldwide welcomed 1 billion fewer international arrivals in 2020 when compared to the previous year, equating to a 74% drop that was the highest reported since records started being kept, even beating the fall due to the 2009 financial crisis. After an estimated $1.3 trillion in export revenue losses in 2020, there are still possible stumbling blocks to the recovery of the industry, as the spread of new variants of the virus and hesitant governments not willing to lift lockdown curbs. Many sub-sectors of the tourism industry, like hotels, restaurants, and airlines, bore the brunt of the COVID-19 losses over the past few months. Maldives, a popular tourist destination, is already offering the coronavirus vaccine to tourists who plan to visit the country. Hedge fund sentiment around the travel industry has also picked up pace in the past couple of months, but there is reason to be a little cautious in blindly following the crowd.
Here are the top 10 best travel stocks to buy right now highlighted by Insider Monkey. Airbnb, Inc. operates through a website and a mobile application. In February, trading firm Susquehanna picked Airbnb as one of its top picks based on the first-quarter earnings report of the company in 2021. TripAdvisor, Inc. is a Needham-based online travel company. The company is famous for user-generated content that compares the travel experiences of different hotels, shopping centers, and eateries. Some of the famous establishments Las Vegas Sands Corp. runs include The Venetian Macao Resort Hotel, the Londoner Macao, The Parisian Macao, The Plaza Macao, and Four Seasons Hotel Macao, among others. It maintained a Neutral rating on Las Vegas Sands stock, citing the slow pace of economic recovery in tourist spots like Macau and Las Vegas. Royal Caribbean Group is a Florida-based global cruise holding company. It owns and operates the Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea Cruises brands. The Boeing Company is a Chicago-based aircraft manufacturer. The company has been hit hard by the pandemic as orders for new aircraft dried up from around the world due to the restrictions on air travel. Read more on this topic from the article 10 Best Travel Stocks to Buy Right Now.
