US travel spending will plunge in 2020, not fully recover until 2024 - travel group
A U.S. travel group said on Tuesday that travel spending is expected to fall by more than $500b in 2020 and is not expected to recover to pre-coronavirus levels until 2024. The US Travel Association projects spending in 2019 will be $617b, down from its July forecast of $622b, compared with $1.13t in 2019. The decline reflects the dramatic falloff in business travel. The group said the industry has lost nearly 40%, or 3.5m, of all direct travel jobs and warned another 1m jobs could be lost without additional government relief by year-end. The group forecasts a 75% reduction in international visitors to the US in 2020, accounting for a $119b decline in spending. The United States currently bars most non-US citizens who have recently been in Europe, China, Brazil and some other countries.<br/>
https://portal.staralliance.com/imagelibrary/news/hot-topics/2020-11-18/general/us-travel-spending-will-plunge-in-2020-not-fully-recover-until-2024-travel-group
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US travel spending will plunge in 2020, not fully recover until 2024 - travel group
A U.S. travel group said on Tuesday that travel spending is expected to fall by more than $500b in 2020 and is not expected to recover to pre-coronavirus levels until 2024. The US Travel Association projects spending in 2019 will be $617b, down from its July forecast of $622b, compared with $1.13t in 2019. The decline reflects the dramatic falloff in business travel. The group said the industry has lost nearly 40%, or 3.5m, of all direct travel jobs and warned another 1m jobs could be lost without additional government relief by year-end. The group forecasts a 75% reduction in international visitors to the US in 2020, accounting for a $119b decline in spending. The United States currently bars most non-US citizens who have recently been in Europe, China, Brazil and some other countries.<br/>
