Year of travel: Signs are pointing towards the travel industry facing a quick rebound in 2021 as many people plan on making up for their trips that were cancelled due to the coronavirus pandemic. Travel agents expect a full recovery in the first quarter of 2021 alone, reports Forbes, with U.S. travelers anticipated to take more leisure trips than they did in 2019 or 2020. The strong numbers of future bookings are a positive sign for an industry initially hit hard by quarantine measures and travel bans.
Do good. Make money: Impact investments, typically categorized as environmental, social or governance (E.S.G.), are significantly outperforming traditional alternatives during the coronavirus pandemic. The New York Times speculates that this might mark the beginning of wealthy investors refocusing on ways to generate change while still generating a solid return. These investments’ successful returns are enticing hesitant investors to rework their portfolios as 64 percent of actively managed E.S.G. funds beat their benchmarks through the first week of August.
“The data heartens advisers who see this as a moment when they can stop making the case that individuals need to give up returns to make impact investments.”
Change fee changes: United Airlines is putting an end to flight change fees for most of its domestic itineraries as its latest effort to boost bookings. Several carriers had previously extended freezes on changes influenced by travel bans and restrictions, but a sluggish rebound in sales has prompted United to take it a step further as the first U.S. carrier to completely eliminate its domestic change fees, reports Fox Business. While United is joining Southwest Airlines Co. which already did not charge baggage or change fees, most other U.S. carriers carry penalties ranging from $200 to $500.
Prime fashion: According to Forbes, there are rumors that Amazon is launching a luxury fashion site this fall. While the retail giant currently stands as the largest seller of apparel in the world, it has not yet extended into the high margin sector of luxury fashion. Amazon faces several hurdles that could make entry into the luxury market difficult including customer ownership disputes with designers, high levels of counterfeit goods and lack of personal service many customers are accustomed to when shopping for high profile brands.