There has been a worldwide surge in travel following the easing of COVID fears. This has seen a boom in the travel industry despite the inflationary pressures, war in Europe, and hike in fuel prices. This has led to severe challenges in the travel industry to keep up with the high demand and shortage of labor force. Such fluctuations in demand also creates a displacement effect in other service industries, given that consumers have a fixed discretionary budget - if they spend more on travel, they may spend less on something else.Links to an external site. Discuss how the spillover effects of the pandemic continue to impact the service industry due to supply/demand peaks and valleys, accompanied by displacement effects