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PHOENIX - Gov. Doug Ducey is telling business owners that their ability to remain open and the future of the Arizona economy is going to depend on how well they follow the voluntary protocols designed to prevent another outbreak of COVID-19.

During more than a one-hour conference call Thursday, the governor told those on the line about their role in keeping people safe.

"We all know how important that is to rebuild consumer confidence,'' he said.

"I know what you're doing is what's going to bring our economy back,'' the governor said. "I think you have a patriotic duty to open up safely and successfully.''

But the governor said he needs more.

"I'm also asking for your help inside your industry to hold yourselves accountable and your customers accountable, as well as your peers in the industry, that positive peer pressure,'' Ducey told them.

He said it's natural to want to compete for business.

"But we need to be responsible on this,'' the governor said.

Ducey is allowing his stay-at-home order to self-destruct at midnight Friday night. He also has expanded the kinds of businesses that can open to include restaurants, bars, beauty salons, fitness centers and movies. (See related story)

The governor said making that work, though, is linked to maintaining "social distancing'' to prevent the virus from spreading any further. And that, he said, depends on businesses complying with what are protocols and recommendations to make that happen.

"You are going to determine the success of this economy,'' he said, and to rebuilding consumer confidence.

What that self-policing also means, the governor said, is avoiding bad publicity that can undermine the desire of Arizonans to go out.

"Our press is interested in zeroing in on outliers,'' he said. "And that seems all they are interested in, not the good work that everyone who's on this call is doing.''

That theme was repeated as the governor addressed allowing the pools at hotels and resorts to reopen.

"There's a lot of people in Arizona who need a 'staycation,' '' the governor said.

"Please make sure there is good behavior, that people are safe, and that there's good optics so we don't give the media the story they're looking for,'' Ducey said. "Let the story be Arizona's success and safety and good common sense, just like it's been for the last nine weeks.''

The plea was personal.

"I'm counting on the folks on the line here,'' the governor said.

"Help us with your peers in the industry,'' he said. "We don't need any outliers or bad actors.''

While Ducey used the call to promote the things he already has done, he also had to tell some that the relief they are looking for is not yet available.

Ronen Aviram, general manager of the Hotel Valley Ho in Scottsdale, said much of the tourism business relies on hosting conferences and meetings. But at the moment the guidance the state is providing prevents gatherings of more than 10.

Ducey told him there's nothing he can do right now because that guidance, which comes from the White House and the Centers for Disease Control and Prevention, is based on where Arizona is in controlling the virus.

"These phases can go as quickly as 14 days at a time,'' the governor said.

Only when there are more positive signs about the spread of the virus can the state ease the rules a bit more. And Ducey said he can't make any commitment right now when Arizona will get there.

"I really want to be in a position where I'm under-promising and over-delivering,'' the governor said, promising to send him a copy of the criteria.

"I think you'll see where we are right now and where we could be in two or four weeks,'' Ducey said.

"I know that might not be the answer that you're looking for,'' he continued. "We're not there today.''

In response to another question, the governor said any criticism aimed at him because churches and other houses of worship are closed is misdirected.

"The governor doesn't have the authority to shut down churches,'' Ducey said.

"The churches never closed by the hand of the state,'' he said, saying those decisions were made by `our pastors and our priests and our rabbis."

On Twitter: @azcapmedia

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Ducey: Businesses have a ' a patriotic duty to open safely and successfully' - Verde Independent

We are still in the early chapters of the Covid-19 story and its too soon to judge the full impact of the pandemic. But one can tentatively discern six negative trends for Europe. These had all emerged before the virus struck but are now accelerating. In various ways they are all likely to help the cause of anti-EU populists: greater economic autarky, stronger borders and more hostility to green policies.

Covid-19 has given extra ammunition to those arguing for greater national or European self-sufficiency. Long before it arrived, there was talk of deglobalisation and reshoring of supply chains. This stemmed in part from politics: Donald Trumps protectionist policies threatened international supply chains, as did the UKs pursuit of a hard Brexit.

Economics is also important: wage differentials between emerging economies such as China and rich countries are narrowing, reducing the advantages of off-shoring production.

Now concerns about the security of the supply of drugs, medical equipment and even key components for the car industry, alongside greater suspicion of Chinese companies, have boosted the case for more national or European autonomy of supply chains.

National capitals are gaining more clout vis-a-vis the EUs institutions. For decades these institutions have been losing ground to the member states, which resent the powers that Brussels has accumulated.

The key capitals assert their authority in hard times. They did it a decade ago during the financial and eurozone crises, when they had to provide the bailout money.

Now they have done so again. The European commission has struggled to keep the 27 together and to coordinate their responses to Covid-19 not only because most of the key powers on health, fiscal policy and frontiers reside at national level, but also because many people look to national leaders to navigate the difficulties.

The EU has been strengthening the Schengen zones external border since 2015, when numbers of people seeking refuge in Europe first surged in significant numbers. Some governments also introduced checks on borders within the Schengen area.

The health emergency has increased suspicion of foreigners and in March the EUs Schengen-area countries closed their external border to non-essential travellers. More obstacles to movement within the Schengen area have also sprouted. At some point governments will have got the virus largely under control, but they will then be very wary of softening the Schengen border. Visitors from parts of the world where the disease may still be rampant will not be welcome. Many politicians will want to make life as difficult as possible for irregular migrants.

The pandemic is likely to strengthen opposition to policies that are designed to moderate the climate crisis and make us live greener lives. Before the virus arrived, populists such as the Sweden Democrats, the AfD in Germany, Nigel Farage in the UK and the gilets jaunes (yellow vests) in France were using hostility to green policies as a means of drumming up support.

Many voters whose standards of living are dropping dramatically will not want to take a further hit to jobs and incomes from measures designed to tackle the climate emergency. Europes leaders insist that their plans for curbing carbon emissions are sacrosanct. But as the recession bites, the pressures on them to moderate their green agenda, including from industry, will strengthen.

For several years an east-west division has left Hungary, Poland and sometimes other central European states at odds with the rest of the EU. They have rowed over the distribution of irregular immigrants, with some eastern countries refusing to take any; targets for reducing carbon emissions, with the easterners tending to depend on coal; and the rule of law, with Poland and Hungary disregarding the independence of the judiciary and media pluralism.

Covid-19 has widened the rift. Central Europeans fear that they will lose money from the EU budget to the southern countries most afflicted by the virus. Meanwhile Hungarys Viktor Orbn has used the pandemic as a justification for introducing rule by decree, exacerbating fears that he is creating a de facto dictatorship.

The virus is widening the north-south fissure which emerged in the eurozone crisis 10 years ago. Germany, the Netherlands and their northern allies were reluctant to give substantial help to the southern countries in difficulty.

Now the coronavirus has struck the EU asymmetrically. The southern countries, particularly Italy and Spain, have suffered more coronavirus deaths than most others, started the crisis with higher levels of debt and depend on industries such as tourism that are badly affected. They want solidarity from the north, ideally in the form of some sort of eurobond: the EU as a whole would borrow money and then disburse grants to the worst-affected countries.

EU leaders have agreed to set up a recovery fund to support the worst-affected regions. But this seems likely to provide more in the way of loans than grants, because the northern governments remain opposed to large-scale transfers to the south although the southerners already have excessive levels of debt.

This stinginess is rooted in northern voters hostility to transfers. But it delights populists such as Matteo Salvini, in Italy, who is skilled at exploiting every perceived slight from the EU. One recent opinion poll found that 49% of Italians wanted to leave the EU.

None of these changes is to be welcomed. If Europe pushes self-sufficiency too far, it will impair the benefits that trade delivers to all continents. Closing frontiers within the Schengen zone or on its borders, once Covid-19 is under control, would achieve very little. And when the EU is faced with transnational challenges such as economic depression, a pandemic or climate change, it needs strong central institutions.

EU leaders should not slacken in their efforts to tackle climate change. The east-west rift is alarming and cannot be resolved by tolerating disrespect for the rule of law. As for the north-south divide, the ECB may be able to do enough to keep Italy and other southern member-states in the eurozone. But the politics of an unresolved rift may turn very nasty, increasing anti-EU sentiment across the bloc and could even trigger a country leaving the EU or the euro.

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How coronavirus is reshaping Europe in dangerous ways - The Guardian

NEW YORK, May 15, 2020 (GLOBE NEWSWIRE) -- Verizon Communications Inc. (Verizon) (NYSE, NASDAQ: VZ) today announced that it will redeem the following notes onJune 15, 2020 (the Redemption Date):

The redemption price for the 2.375% Notes will be equal to the greater of (i) 100% of the principal amount of the 2.375% Notes being redeemed, or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the 2.375% Notes (exclusive of interest accrued to the Redemption Date), as the case may be, discounted to the Redemption Date on an annual basis (ACTUAL/ACTUAL (ICMA))at the Comparable Government Bond Rate (as defined in the 2.375% Notes) plus 20 basis points (the 2.375% Redemption Price), plus accrued and unpaid interest on the principal amount being redeemed to, but excluding, the Redemption Date. The 2.375% Notes Redemption Price will be calculated in accordance with the terms of the 2.375% Notes on the third Business Day (as defined in the 2.375% Notes) preceding the Redemption Date.

The redemption price for the 0.500% Notes will be equal to the greater of (i) 100% of the principal amount of the 0.500% Notes being redeemed, or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the 0.500% Notes (exclusive of interest accrued to the Redemption Date), as the case may be, discounted to the Redemption Date on an annual basis (ACTUAL/ACTUAL (ICMA))at the Comparable Government Bond Rate (as defined in the 0.500% Notes) plus 15 basis points (the 0.500% Redemption Price), plus accrued and unpaid interest on the principal amount being redeemed to, but excluding, the Redemption Date. The 0.500% Notes Redemption Price will be calculated in accordance with the terms of the 0.500% Notes on the third Business Day (as defined in the 0.500% Notes) preceding the Redemption Date. Annual interest on the 0.500% Notes will be paid on June 2, 2020 to each holder of record on the close of business on May 19, 2020.

Questions relating to the notice of redemption and related materials should be directed to the paying agent: U.S. Bank National Association, c/o Elavon Financial Services DAC, UK Branch, 125 Old Broad Street, Fifth Floor, London, EC2N 1AR, United Kingdom, or via telephone at 1-800-934-6802.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is celebrating its 20th year as one of the worlds leading providers of technology, communications, information and entertainment products and services. Headquartered in New York City and with a presence around the world,Verizon generated revenues of $131.9 billion in 2019.The companyoffers voice, data and video services and solutions on its award winning networks and platforms,deliveringoncustomers demand for mobility, reliable network connectivity, security and control.

Cautionary Statement Regarding Forward-Looking Statements

In this communication we have made forward-looking statements. These forward-looking statements are not historical facts, but only predictions and generally can be identified by use of statements that include phrases such as will, may, should, continue, anticipate, believe, expect, plan, appear, project, estimate, intend, or other words or phrases of similar import. Similarly, statements that describe our objectives, plans or goals also are forward-looking statements. These forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated. Factors that could materially affect these forward-looking statements can be found in our periodic reports filed with the SEC. Eligible holders are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements included in this press release are made only as of the date of this press release, and we undertake no obligation to update publicly these forward-looking statements to reflect new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events might or might not occur. We cannot assure you that projected results or events will be achieved.

VERIZONS ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at http://www.verizon.com/about/news/. News releases are also available through an RSS feed. To subscribe, visit http://www.verizon.com/about/rss-feeds/.

Media contact:Eric WilkensEric.wilkens@verizon.com201.572.9317@ericwilkens

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Verizon to redeem debt securities on June 15, 2020 - GlobeNewswire

First and total coronary revascularization event reductions of 34% and 36%, respectively, shown with VASCEPA in prespecified tertiary endpoint analyses

Results of prespecified tertiary endpoint analyses consistent across different types of coronary revascularization procedures, including urgent, emergent, and elective interventions

Percutaneous coronary intervention (PCI) and coronary artery bypass graft (CABG) reduced by 32% and 39%, respectively, in post hoc exploratory analyses

DUBLIN, Ireland and BRIDGEWATER, N.J., May 14, 2020 (GLOBE NEWSWIRE) -- Amarin Corporation plc (NASDAQ:AMRN) today announced that data from the REDUCE-IT study presented by Benjamin E. Peterson, M.D., Brigham and Womens Hospital Heart & Vascular Center and Harvard Medical School, at the Society for Cardiovascular Angiography & Interventions 2020 Scientific Sessions, showed that administration of 4 g/day of VASCEPA (icosapent ethyl) resulted in a significant 34% reduction in first coronary revascularizations versus placebo (p<0.0001). Similar reductions of 36% were observed in total, or first and subsequent, revascularizations (p<0.0001).

These findings from the REDUCE-IT study put in further context the broad-reaching impact of icosapent ethyl on reducing the burden of cardiovascular disease for patients, commented Dr. Deepak L. Bhatt, M.D., M.P.H., Executive Director of Interventional Cardiovascular Programs at Brigham and Womens Hospital Heart & Vascular Center and Professor of Medicine at Harvard Medical School, and senior author of the REDUCE-IT REVASC analyses. To the best of our knowledge, this is the first non-LDL cholesterol intervention in a major randomized trial in which analyses support that statin-treated patients underwent fewer CABG surgeries, further highlighting the substantial impact of icosapent ethyl on the underlying atherothrombotic burden in this at-risk population.

Coronary revascularization procedures are invasive, carry multiple risks, and can have significant direct and indirect costs. Patients with elevated triglycerides despite statin therapy have increased risk for ischemic events, including coronary revascularizations. These procedures, whether pre-scheduled or performed in an emergency, oftentimes result in additional time spent in a healthcare setting.

The analyses from the REDUCE-IT study included several types of coronary revascularization events in statin-treated patients with persistent elevated triglycerides (135-499 mg/dL), who also had either cardiovascular disease or diabetes and additional cardiovascular risk factors. Prespecified tertiary endpoint analyses showed that times to first revascularization events were significantly reduced by VASCEPA versus placebo across subtypes of intervention, including urgent, emergent, and elective revascularizations, which were reduced by 34% (p<0.0001), 38% (p=0.02), and 32% (p<0.0001), respectively. In post hoc analyses, VASCEPA significantly reduced percutaneous coronary intervention (PCI) by 32% (p<0.0001) and coronary artery bypass grafting (CABG) by 39% relative to placebo (p=0.0005).

REDUCE-IT was not specifically powered to examine individual cardiovascular endpoints, therefore p-values presented for these revascularization analyses are nominal and exploratory with no adjustment for multiple comparisons. In addition, coronary revascularization as an endpoint can sometimes be considered subjective; however, these endpoints were adjudicated by an independent, blinded clinical endpoint committee. Results from the total coronary revascularization events analyses are consistent across the various recurrent event statistical models and are also consistent with the first coronary revascularization events results. Together, the REDUCE-IT first and total coronary revascularization events results support the robustness and consistency of the clinical benefit of VASCEPA therapy in reducing coronary revascularization.

Revascularization procedures significantly impact the healthcare system, said Steven Ketchum, Ph.D., senior vice president and president, research & development and chief scientific officer, Amarin. These data reflect new findings consistent with FDA-approved findings that continue to support that the use of VASCEPA has the potential to transform cardiovascular care in appropriate high-risk patients.

Slides from the presentation are available at http://www.scai.org/SCAI2020

About Amarin

Amarin Corporation plc is a rapidly growing, innovative pharmaceutical company focused on developing and commercializing therapeutics to cost-effectively improve cardiovascular health. Amarins lead product, VASCEPA (icosapent ethyl), is available by prescription in the United States, Canada, Lebanon and the United Arab Emirates. Amarin, together with its commercial partners in select geographies, is pursuing additional regulatory approvals for VASCEPA in China, the European Union and the Middle East. For more information about Amarin, visit http://www.amarincorp.com.

About Cardiovascular Risk

The number of deaths in the United States attributed to cardiovascular disease continues to rise.1,2 There are 605,000 new and 200,000 recurrent heart attacks per year (approximately 1 every 40 seconds), in the United States. Stroke rates are similar, accounting for 1 of every 19 U.S. deaths (approximately 1 every 40 seconds).3

Controlling bad cholesterol, also known as LDL-C, is one way to reduce a patients risk for cardiovascular events, such as heart attack, stroke or death. However, even with the achievement of target LDL-C levels, millions of patients still have significant and persistent risk of cardiovascular events, especially those patients with elevated triglycerides. Statin therapy has been shown to control LDL-C, thereby reducing the risk of cardiovascular events by 25-35% but that still leaves a 65-75% risk remaining.4 People with elevated triglycerides have 35% more cardiovascular events compared to people with normal (in range) triglycerides taking statins.5,6,7

About REDUCE-IT

REDUCE-IT was a global cardiovascular outcomes study designed to evaluate the effect of VASCEPA in adult patients with LDL-C controlled to between 41-100 mg/dL (median baseline 75 mg/dL) by statin therapy and various cardiovascular risk factors including persistent elevated triglycerides between 135-499 mg/dL (median baseline 216 mg/dL) and either established cardiovascular disease (secondary prevention cohort) or diabetes mellitus and at least one other cardiovascular risk factor (primary prevention cohort).

REDUCE-IT, conducted over seven years and completed in 2018, followed 8,179 patients at over 400 clinical sites in 11 countries with the largest number of sites located within the United States. REDUCE-IT was conducted based on a special protocol assessment agreement with FDA. The design of the REDUCE-IT study was published in March 2017 in Clinical Cardiology.8The primary results of REDUCE-IT were published in The New England Journal of Medicine in November 2018.9The total events results of REDUCE-IT were published in the Journal of the American College of Cardiology in March 2019.10 These and other publications can be found in the R&D section on the companys website at http://www.amarincorp.com.

About VASCEPA (icosapent ethyl) Capsules

VASCEPA (icosapent ethyl) capsules are the first-and-only prescription treatment approved by the FDA comprised solely of the active ingredient, icosapent ethyl (IPE), a unique form of eicosapentaenoic acid. VASCEPA was initially launched in the United States in 2013 based on the drugs initial FDA approved indication for use as an adjunct therapy to diet to reduce triglyceride levels in adult patients with severe (500 mg/dL) hypertriglyceridemia. Since launch, VASCEPA has been prescribed over eight million times. VASCEPA is covered by most major medical insurance plans. The new, cardiovascular risk indication for VASCEPA was approved by the FDA in December 2019.

Indications and Limitation of Use

VASCEPA is indicated:

The effect of VASCEPA on the risk for pancreatitis in patients with severe hypertriglyceridemia has not been determined.

Important Safety Information

Key clinical effects of VASCEPA on major adverse cardiovascular events are included in the Clinical Studies section of the prescribing information for VASCEPA, as set forth below:

Effect of VASCEPA on Time to First Occurrence of Cardiovascular Events in Patients with Elevated Triglyceride levels and Other Risk Factors for Cardiovascular Disease in REDUCE-IT

n (%)

n (%)

(17.2)

(22.0)

(0.68, 0.83)

(11.2)

(14.8)

(0.65, 0.83)

(6.1)

(8.7)

(0.58, 0.81)

(5.3)

(7.8)

(0.55, 0.78)

(4.3)

(5.2)

(0.66, 0.98)

(2.6)

(3.8)

(0.53, 0.87)

(2.4)

(3.3)

(0.55, 0.93)

[2] Determined to be caused by myocardial ischemia by invasive/non-invasive testing and requiring emergent hospitalization.

FULL VASCEPA PRESCRIBING INFORMATION CAN BE FOUND AT http://WWW.VASCEPA.COM.

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding the potential impact of VASCEPA in various clinical uses. These forward-looking statements are not promises or guarantees and involve substantial risks and uncertainties. Among the factors that could cause actual results to differ materially from those described or projected herein include the following: uncertainties associated generally with research and development and clinical trials such as further clinical evaluations failing to confirm earlier findings. A further list and description of these risks, uncertainties and other risks associated with an investment in Amarin can be found in Amarin's filings with the U.S. Securities and Exchange Commission, including its most recent Quarterly Report on Form 10-Q. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Amarin undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise. Amarins forward-looking statements do not reflect the potential impact of significant transactions the company may enter into, such as mergers, acquisitions, dispositions, joint ventures or any material agreements that Amarin may enter into, amend or terminate.

Availability of Other Information About Amarin

Investors and others should note that Amarin communicates with its investors and the public using the company website (www.amarincorp.com), the investor relations website (investor.amarincorp.com), including but not limited to investor presentations and investor FAQs, Securities and Exchange Commission filings, press releases, public conference calls and webcasts. The information that Amarin posts on these channels and websites could be deemed to be material information. As a result, Amarin encourages investors, the media, and others interested in Amarin to review the information that is posted on these channels, including the investor relations website, on a regular basis. This list of channels may be updated from time to time on Amarins investor relations website and may include social media channels. The contents of Amarins website or these channels, or any other website that may be accessed from its website or these channels, shall not be deemed incorporated by reference in any filing under the Securities Act of 1933.

Amarin Contact Information

Investor and Media Inquiries:Elisabeth SchwartzInvestor RelationsAmarin Corporation plcIn U.S.: +1 (908) 719-1315investor.relations@amarincorp.com (investor inquiries)PR@amarincorp.com (media inquiries)

Lee M. SternSolebury TroutIn U.S.: +1 (646) 378-2992lstern@soleburytrout.com

_____________________________1 American Heart Association. Heart Disease and Stroke Statistics 2019 Update: A Report from the American Heart Association. Published January 31, 2019.2 American Heart Association / American Stroke Association. 2017. Cardiovascular disease: A costly burden for America projections through 2035.3 American Heart Association: Heart Disease and Stroke Statistics -- 2019 At-a-Glance.4 Ganda OP, Bhatt DL, Mason RP, et al. Unmet need for adjunctive dyslipidemia therapy in hypertriglyceridemia management. J Am Coll Cardiol. 2018;72(3):330-343.5 Budoff M. Triglycerides and triglyceride-rich lipoproteins in the causal pathway of cardiovascular disease. Am J Cardiol. 2016;118:138-145.6 Toth PP, Granowitz C, Hull M, et al. High triglycerides are associated with increased cardiovascular events, medical costs, and resource use: A real-world administrative claims analysis of statin-treated patients with high residual cardiovascular risk. J Am Heart Assoc. 2018;7(15):e008740.7 Nordestgaard BG. Triglyceride-rich lipoproteins and atherosclerotic cardiovascular disease - New insights from epidemiology, genetics, and biology. Circ Res. 2016;118:547-563.8 Bhatt DL, Steg PG, Brinton E, et al., on behalf of the REDUCE-IT Investigators. Rationale and Design of REDUCEIT: Reduction of Cardiovascular Events with Icosapent EthylIntervention Trial. Clin Cardiol. 2017;40:138-148.9 Bhatt DL, Steg PG, Miller M, et al. Cardiovascular Risk Reduction with Icosapent Ethyl for Hypertriglyceridemia. N Engl J Med. 2019;380:11-22.10 Bhatt DL, Steg PG, Miller M, et al., on behalf of the REDUCE-IT Investigators. Reduction in first and total ischemic events with icosapent ethyl across baseline triglyceride tertiles. J Am Coll Cardiol. 2019;74:1159-1161.

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VASCEPA (icosapent ethyl) Shows Significant Reduction in Coronary Revascularization, Including Coronary Stenting and Cardiac Bypass Surgery, in...

Pandemic has tilted the scale in favor of domestic travel, experts say

Restrictions on businesses of all kinds as a result of the COVID-19 outbreak left the majority no choice but to shut down, at least temporarily. The tourism and hospitality sector has been among the hardest hit.

More than 75 million hospitality and tourism employees worldwide are expected to lose their jobs in 2020 as a result of the pandemic, according to Statista.com. Furthermore, the industrys revenue is projected to fall by about 35% over the previous year, with Europe being the worst affected.

More than 4.5 million tourists visited Israel in 2019, injecting over $5.5 billion into the economy.

In the first two months of 2020, 3.3 million stays were registered in Israels hotels. Over 200,000 workers were employed in the industry, accounting for 2.5% to 3% of gross domestic product.

In the Red Sea city of Eilat, whose economy is highly dependent on tourism, the unemployment rate has soared past 70%, to the highest level in Israel.

Following six weeks at a virtual standstill, the hospitality and tourism industry is preparing for a gradual return to business.

The cabinet has tentatively approved the reopening of guesthouses and ground-level hotel rooms starting this coming Sunday, provided that the national infection rate does not rise by the scheduled opening date. However, pools, hot tubs and dining rooms will remain closed. According to experts, a return to the pre-COVID-19 occupancy level may take between 18 and 48 months.

Inbound air travel, thus far limited to a handful of flights from Newark, Moscow and Addis Ababa, and assorted rescue flights from other cities, will resume from next month, despite the continued barring of entry to all non-Israelis. Israelis returning from abroad are required to enter 14 days of isolation in government-supplied hotels.

One after the other, foreign airlines have announced the resumption of flights to Tel Aviv. Wizz Air, British Airways, Delta and Air Canada flights can be booked online for next month. As for new outbound air travel options, Israelis will have to wait until June. Then Air India may start Tel Aviv-Delhi flights and Alitalia will offer Tel Aviv-Rome.

While the airline industry is preparing itself for a return to business as usual in the very near future, not all travelers may be ready to book their next flight quite so soon. Experts believe the recovery of the airline industry is likely to be gradual. An even slower recovery is seen as possible but less likely, depending on how long national economies are shut down.

A study conducted on the behalf of the International Air Transport Association (IATA) shows that 60% of travelers are likely to return to flying within one to two months of containment of the COVID-19 pandemic. However, as many as 40% of respondents reported that they would put off travel for at least six months.

In the same study, 69% reported that they were likely to defer a return to travel until their financial situation stabilized. This is not surprising given that hundreds of millions around the world either lost their jobs or are at risk of losing them due to the coronavirus pandemic. In the US alone, more than 24 million people lost their jobs. In Israel, over a million employees were sent home, either laid off or furloughed without pay.

A breakdown of international and domestic travel prospects shows an interesting outlook for the hospitality and tourism industry. Experts believe that for the foreseeable future, domestic travel will be more dominant than previously.

Initially travel is likely to be domestic rather than international, Omry Livtak, chief operating officer and co-founder of Hotelmize, tells The Media Line.

Drive holidays such as regional travel within the US and Europe is a likely scenario, Andy Owen-Jones, CEO at Bd4travel, tells The Media Line.

There are several possible reasons for this. There is concern over mandatory quarantine upon return to ones home country. Another possible reason is the perceived risk associated with traveling abroad.

The experts views are supported by recent research data. An international study this writer conducted with his colleagues suggests that over 50% of individuals were likely to travel domestically in the next six months. The number of those likely to travel domestically in the next 12 months is considerably higher, with about 70% saying they would do so.

As for international travel, roughly 30% of respondents reported they were likely to travel abroad in the next six months. However, over 50% reported they were likely to travel abroad in the next 12 months.

Although a majority of tourists may be deterred from traveling abroad in the next 12 months, tourism-dependent economies may be able to compensate for at least some of the lost income with the help of domestic tourists.

People will not give up on their vacations, Livtak says.

As for Israelis, The fact that Tel Aviv is expensive will not deter Israelis from booking rooms at hotels located in the city, Livtak says. The city has a lot to offer. Israelis are likely to flock to the city as previously popular destinations such as Greece and Cyprus along with all other foreign destinations no longer top their list of holiday destinations.

Which destinations are likely to be travelers favorites once they resume international travel? A study this writer and his colleagues are conducting shows that Europe and the US top the list. Despite reports of racism toward ethnic Chinese around the world, including in the US, Canada and the UK, two-thirds of respondents stated a willingness to visit China in the future, with over 50% saying they would travel there mainly for vacations.

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The Future of Travel: Where Will People Fly After COVID-19 Is Brought Under Control? - The Media Line