Ramping up vaccination rates for Covid-19 will help boost the recovery in the travel and tourism industry, a panel of experts told CNBC.
Vaccination is the only comprehensive way to fight the impact of the coronavirus, Ritesh Agarwal, CEO and founder of Indian budget hotel chain start-up Oyo, told Nancy Hungerford during the virtual CNBC Evolve Global Summit on Wednesday.
Global travel and tourism took a massive hit last year and many airlines are still struggling to stay afloat. The coronavirus pandemic shut down borders and suspended most international travel. With vaccination rates picking up, especially in the West, many countries are slowly opening up their economies and borders.