Boom in travel demand as sterling slumps to new lows

There is more good news, though, with the World Health Organisation stating the Covid pandemic is almost over.

Here are the headlines affecting travel on Monday 26 September.

Travel demand booming despite economic woes

Demand for travel is still booming despite worries over the global economy and cost of living. Hotel bookings for the fourth quarter have outpaced 2019 levels this year, according to figures compiled by Amadeus, which aggregates data from 35,000 global hotels. (Financial Times)

Pound slumps to lowest against dollar since 1971

The pound has fallen to a record low against the dollar as markets react to the UK’s biggest tax cuts in 50 years. In early Asia trade, sterling slipped just below $1.04 before regaining some ground to stand at about $1.05 on Monday morning UK time. The pound was also down over two eurocents at €1.0984 (-2%), its weakest since December 2020. (BBC News)

Chancellor hints at more tax cuts

Kwasi Kwarteng has hinted at more tax cuts, sparking fears among investors the UK will not be able to balance the books and that the Bank of England will again raise interest rates. (Sky News)

Pandemic end is ‘in sight’, says WHO

The end of the Covid pandemic is "in sight", the World Health Organisation says. Weekly deaths from the virus globally are their lowest since March 2020 - the month Britain first went into lockdown. In the UK, infections have dropped to their lowest level for nearly 11 months. (Sky News)

Brits trading down to cheaper brands

Brits are trading down to cheaper products in response to rampant inflation squeezing their finances, a survey published today shows. A third of consumers are buying more own brand products, while one in four are turning to cheaper retailers in a bid to cap their weekly shop, according to consultancy KPMG. (City AM)