This is why travel stocks (EXPE,BKNG,TRIP..) are up today – Idaho Reporter

BKNG, Eurozone, EXPE

This is why travel stocks (EXPE,BKNG,TRIP..) are up today

According to the German press agency, the German government wants to lift the worldwide travel warning for 31 European countries immediately after June 15th. This emerges from the draft for a key point paper “Criteria for enabling intra-European tourism”, which is likely to be decided on Wednesday. The stock has stopped.

The prerequisite for this big step is, of course, that the positive development of corona continues. Then, in mid-June, in addition to trips to Germany’s 26 EU partner countries, vacations in Great Britain, Iceland, Norway, Switzerland and Lichtenstein are again possible. There will be individual travel advice for each of these countries. The previous travel warning issued by the Federal Foreign Minister on March 17 is valid until June 14. Once Germany lifts all travel bans this means that entire EU will probably open up on June 15th.

For Expedia Group Inc (NASDAQ:EXPE),Booking Holdings (NASDAQ:BKNG) and Trip.com (NASDAQ:TCOM) stock price this is a great news so stock skyrocket this morning after the opening.

EXPE stock is trading almost 10% higher on Tueday compared to Friday, BKNG stock price went $80 up in the early morning and TCOM stock is up 9.21%.

“The revival of tourism is important both for travelers and the German travel industry and for economic stability in the respective destination countries”, says the draft from the German Federal Foreign Office.

However, the uncertainties and questions remain in view of the ongoing corona pandemic: How will the hygiene and clearance rules going to be implemented everywhere, and how will this affect sales? It is clear that neither the planes nor the hotels or accommodations in the holiday regions will be even fully booked.

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