Pearl Representation Ltd
This week has seen some good news on the vaccine front. COVID-19 has created an unprecedented global crisis with COVID-19 spreading across the world at a speed we have never seen before. 2020 has seen the global economy grind to a halt as many countries across the world have gone into lockdown. The demand for global travel has disappeared while countries shut borders in an effort to stop the spread of the virus. In early 2020 the WHO recommended that countries ‘test, test, test’ in order to slow the spread of the disease. Countries across the globe have struggled to keep pace with the advance of this virus however out of this we have seen an unprecedented cohesion in the scientific community and enormous investment from governments across the world to find a vaccine. In normal times the development of a vaccine would take between 7 to 10 years however we are now seeing the outcomes of enormous financial investment and the hard work of the scientific community with the preliminary results of stage 3 trials. The newly developed vaccines are showing that they are over 90% effective in preventing the spread and contraction of the virus.
Pfizer was the first company to show that it had a 90% efficacy and is now working on the first delivery pilot in the US. This week we saw Moderna a US firm also publishing their efficacy of 95%. If we look across the globe, there are now over 10 vaccines close to publishing their preliminary data. Even though this is early news it is very positive as this pandemic will need multiple vaccines and production facilities to tackle the enormous effort of vaccinating the world.
Closer to home we have seen the Oxford vaccine progressing with additional results published this week. The oxford vaccine will produce the highest number of vaccines for the UK and would see the UK being able to move forward quickly with national vaccination programs. The benefit of the Oxford vaccine is that it is likely to be the most cost-effective vaccination which will also benefit the developing world further opening up travel again.
Although still some way off these developments have given the travel sector some welcome good news, we are seeing some clients tentatively planning again.
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