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Vaccination mistakes threaten to disrupt tourist season and lose 100 billion euros

Source : 112 Ukraine

European economy risks losing billions if governments do not speed up vaccinations
17:30, 8 March 2021

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Vaccination mistakes in the first quarter of 2021 threaten the European Union with a loss of about 100 billion euros in investment and threaten the second tourism season in a row. This is reported by Bloomberg.

The agency writes that vaccination failures in the EU are of concern to the world's largest investors. Investors note that the slow pace of business recovery (the service and tourism sectors in most EU countries remain largely closed due to quarantine measures) threaten to undermine the economic recovery. A one or two month delay in starting a business threatens the EU economy with a loss of 50 billion to 100 billion euros in lost profits.

European investment funds have been recording capital outflows for three weeks in a row, while Bank of America and the BlackRock Investment fund warned that the continued increase in the incidence of coronavirus in Europe could disrupt long-term strategies of investors, the agency said.

Related: Coronavirus in Ukraine dashboard: online

The agency cites its statistics according to which the EU currently used 8 doses of the vaccine per 100 people in its population. According to these data, the European Union is far behind the United States (33 doses) and Great Britain (25 doses) in terms of vaccination rates. The agency cites political divisions, supply disruptions, bureaucratic delays and public distrust as the reasons for this.

The agency believes the EU has a chance of vaccinating 75% of its adult population by the end of summer, which is in line with the latest version of the European Commission's vaccination strategy, but that may be too late as it would mean the loss of critical summer months. As a result, the EU may cancel the second tourism season in a row.

Related: Covid-19 in Kyiv: Almost 300 cases observed over 24hrs

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