US travel spending sank 42% in 2020 due to pandemic: industry group
Travel spending by Americans plunged by 42%, or $492b, in 2020, according to a report by an industry group, amid social, travel and business restrictions aimed at curbing the spread of COVID-19. The US Travel Association said the industry shed 5.6m direct and indirect jobs last year, and the decline in travel dragged down total economic output to $1.5t, from 2019’s $2.6t. US tax revenue collected from travel plummeted by $57b in 2020. “While the gradual progress of vaccinations has provided hope that a turnaround may be on the horizon, it is still unclear when travel demand will be able to fully rebound on its own,” said US Travel Association President and CEO Roger Dow.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2021-03-18/general/us-travel-spending-sank-42-in-2020-due-to-pandemic-industry-group
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US travel spending sank 42% in 2020 due to pandemic: industry group
Travel spending by Americans plunged by 42%, or $492b, in 2020, according to a report by an industry group, amid social, travel and business restrictions aimed at curbing the spread of COVID-19. The US Travel Association said the industry shed 5.6m direct and indirect jobs last year, and the decline in travel dragged down total economic output to $1.5t, from 2019’s $2.6t. US tax revenue collected from travel plummeted by $57b in 2020. “While the gradual progress of vaccinations has provided hope that a turnaround may be on the horizon, it is still unclear when travel demand will be able to fully rebound on its own,” said US Travel Association President and CEO Roger Dow.<br/>
