The damage to the travel industry is coming into full focus. In partnership with Tourism Economics, the U.S. Travel Association was able to determine exactly how damaging the pandemic has been.
Travel’s economic footprint in the U.S. shrank 42% last year, making for more than a $1 trillion deficit.
Travel industry employment also experienced a devastating blow during 2020, falling by 5.6 million and accounting for 65% of the country’s job loss.
“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 U.S. Travel Association President and CEO Roger Dow. “With the travel industry suffering such a disproportionate share of losses, policymakers need to understand that a nationwide economic recovery effectively hinges on a travel recovery.”