In Europe, Omicron Fears Spur More Travel Bans and Lockdowns

A new wave of travel restrictions and stricter social distancing rules in Europe will increase uncertainty for the services sector, further slow down economic growth and prompt governments to reintroduce economic support measures. In recent days, several European countries have introduced additional travel restrictions and stricter social distancing measures in order to contain the spread of the omicron variant of COVID-19. While in most cases these measures are not as strict as in previous phases of the pandemic, they are happening at a time when Europe’s economy is slowing down due to issues including supply chain disruptions, rising energy costs and labor shortages. This means that, even if not as intense as restrictions seen in 2020, they could still have a significant economic and societal impact....