Damage wrought by Hurricane Ida in Louisiana and flash floods that hit Europe last summer helped make 2021 one of the most expensive years for natural disasters. Reinsurance company Munich Re put the overall economic losses from natural disasters worldwide last year at $280 billion, making it the fourth-costliest after 2011, the year a massive earthquake and tsunami struck Japan.
International travel is likely to recover soon despite progress being slowed by the omicron variant. So says AirAsia CEO Tony Fernandes, who told CNBC he believes “we’re at the beginning of the end.” Fernandes predicts international travel will get back to pre-Covid levels about six months after borders begin to reopen, and he hopes borders will start to open again in March. He also acknowledges that China continues to be a “big question” in terms of reopening.
