What does 2022 have in store?
Both 2020 and 2021 have been riddled with the uncertainty brought about by the COVID-19 pandemic. After the onslaught of restrictions and volatility brought to the fore in these past two years, many are looking towards 2022 with a renewed hope of better times to come. In this article, we shall be discussing some of the things we may expect in 2022.
Another blow to COVID-19
The outstanding developments in science which enabled a number of vaccines to be available to fight COVID-19 have allowed societies to return to some degree of normality. Heavy restrictions have been lifted in most countries, with the UK removing all. Recent news reports of antiviral drugs being anticipated for approval which will also aid in the cutting down of hospitalisations and deaths when consumed in the early stages of infection. These antiviral drugs, being dubbed as game changers allow those infected to treat themselves at home, without applying additional pressure to hospitals, one of the main problems caused by COVID-19.
A spike in tourism numbers
For the better part of 2020 and to some extent, during 2021, tourism numbers were bleak when compared to pre-pandemic levels. The appeal of travelling was significantly diluted due to the uncertainty. Many eager travellers had to postpone their plans due to the fear of being infected in another country, the documentation required and possible quarantine, with all the expenses that it would potentially bring about. As people would have been virtually postponing their holidays for almost two years, 2022 may likely be the year that tourism comes back with a bang. Considering the reliance of Malta’s economy on tourism, this would be a welcome development.
As indicated by the Prime Minister Robert Abela a few days ago, the upcoming general election is set to take place in 2022. This year will see election campaigns and Malta’s two main political parties going head-to-head. Whilst an election normally brings about a new page for the country, it does also lead to some uncertainty. The weeks prior to an election are normally met with some scepticism with businesses and investors pausing or postponing major decisions. Consumers would also be more cautious with their spending, with many awaiting the election aftermath to resume their daily lives. One of the reasons why this may not be as impactful is due to the fact that the Labour party is expected to continue on with its position in government, considering the margins being quoted in the polls published.
What do you think we should expect for 2022? Let us know in the comments section below.