As the Omicron surge begins to fade, travellers are starting to be more active again, with U.S. airports seeing their busiest weekend since Thanksgiving last week. The boost in passenger volumes might be a sign that the travel and leisure industry is set to recover from its pandemic-era lows, benefiting related exchange-traded funds (ETF) along the way.
Last weekend, the U.S. Transportation Security Administration (TSA) screened nearly 8.4 million passengers from Friday through Monday, more than double the number of travelers from a year ago but still down 7.5% from the 9 million screened before the pandemic began in 2020.
While the first two months of 2022 have also been below their comparable pre-pandemic passenger volume, according to TSA data, last weekend was another sign that people are ready to travel again as restrictions start to ease, especially as individuals have access to highly effective vaccines. That pent-up demand is poised to spill over to the upcoming spring and summer months, which are typically popular for travel.
With nearly $3.9 billion in assets under management, the U.S. Global Jets ETF
Beyond JETS, there are a couple near ETFs that are set to benefit from the recovering travel sector. These include the ETFMG Travel Tech ETF
