Business

A Vaccine Passport Is the New Golden Ticket as the World Reopens

Companies and countries that depend on travel or large gatherings are counting on a totally unproven concept.
Illustration: Joel Plosz for Bloomberg Businessweek
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In a harbor on the Greek island of Paxos, Panagiotis Mastoras checks over his fleet of pleasure craft and counts down the days to the return of the tourists who fuel the economy of the 8-mile speck in the Ionian Sea.

For the rental-boat skipper, the easing of travel curbs imposed as the Covid-19 outbreak swept the world appears tantalizingly close. Greece said it would welcome back visitors starting on May 14, as long as they’ve had a vaccination, recovered from the novel coronavirus, or tested negative before flying out. “It’s the safest way,” says Mastoras, one of 850,000 people working in a holiday sector that accounted for almost a quarter of Greece’s gross domestic product before the pandemic, the highest proportion in Europe. “We’ve reached a point where it can’t go on like this.”