The U.S. will relax the rules at its land borders with Canada and Mexico for foreign nationals who are fully vaccinated for COVID-19 starting in November, reopening the border for the first time since March 21, 2020.
“Cross-border travel creates significant economic activity in our border communities and benefits our broader economy. We are pleased to be taking steps to resume regular travel in a safe and sustainable manner," said Homeland Security Secretary Alejandro Mayorkas.
Non-essential travelers who are fully vaccinated for COVID-19 will need proper vaccination documentation to enter the U.S. via land and ferry ports of entry starting in Nov. 19 months after the U.S. closed
In January 2022, the DHS will require both essential and non-essential travelers to provide proof of vaccination to enter.
Shares of travel stocks didn't seem to get a boost from the decision.
The travel industry was weighed down by Delta Air Lines' (DAL) - Get Delta Air Lines, Inc. Report quarterly results which topped estimates, but also cautioned that surging fuel prices would likely lead to a pre-tax loss over the final months of the year.
Delta on Wednesday closed 5.8% lower while American Airlines (AAL) - Get American Airlines Group, Inc. Report dropped 2.8%, United Airlines (UAL) - Get United Airlines Holdings, Inc. Report declined 3.4% and Southwest (LUV) - Get Southwest Airlines Co. Report shares fell 1.8%.
Meanwhile, hospitality stocks were also falling Wednesday.
Marriott (MAR) - Get Marriott International, Inc. (MAR) Report shares closed off of their session lows, but still down 1.8%. Hilton (HLT) - Get Hilton Worldwide Holdings Inc (HLT) Report shares were down 2.7% and Hyatt (H) - Get Hyatt Hotels Corporation Class A Report shares were down 1.2%.