Starting in November, the U.S. will relax travel restrictions for international visitors who are vaccinated against COVID-19, reports Zacks. Many airlines have been urging the Biden administration to lift the strict rules, which have upset demand for international travel since the start of the pandemic. This latest White House announcement came after the peak of the summer travel season, which could indicate potential strong travel demand going into the upcoming holiday seasons.
As the article goes on to explain, letting more international travelers into the U.S. would have “far-reaching impacts on industries including airlines, retail and restaurants.” In addition, a handful of tourism-related sector ETFs could be impacted positively.
One of these includes the U.S. Global Jets ETF (JETS), which invests in global airlines, aircraft manufacturers, and internet and media booking companies.
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U.S. Global Investors has authored and is responsible for the summary on this page. All opinions expressed and data provided are subject to change without notice. Opinions are not guaranteed and should not be considered investment advice.
The outbreak of the COVID-19 pandemic and the resulting actions to control or slow the spread has had a significant detrimental effect on the global and domestic economies, financial markets, and industries, including airlines. U.S. Global Investors continues to monitor the impact of COVID-19, but it is too early to determine the full impact this virus may have on commercial aviation. Should this emerging macro-economic risk continue for an extended period, there could be an adverse material financial impact to the U.S. Global Jets ETF.