That’s the stark reality of an industry that has completely come to a standstill. While there are green shoots as we look forward to summer, the immediate toll on employment in the travel sector in U.S. — and worldwide — is monumental. And will likely be there long term.
For this Memorial Day holiday weekend, usually the start of a busy summer travel season, travel spending in the U.S. will be just a third of last year’s levels—$4.2 billion this year versus $12.3 billion in 2019, most of it likely to be spent locally and regionally close to where people live.
Roger Dow, CEO of U.S. Travel Association, lays it out clearly: “While the economy is in the midst of a recession, the travel industry is in a depression.” There you have it.
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