The United States of America’s travel and tourism industry is projected to rebound from its post-pandemic levels in 2019, surpassing pre-pandemic levels. The U.S. has made a tremendous comeback since the pandemic hit back in 2009 with 3% growth per year on average for the past 5 years, reaching almost $1 trillion by 2020 after dropping 60% following widespread disease transmission.
The “u.s. travel restrictions” is a good sign for the US Travel industry. The US Travel & Tourism industry has been recovering from the impact of the Zika virus and pandemic, and may surpass pre-pandemic levels in May.
According to the World Travel & Tourism Council’s (WTTC) latest Economic Impact Report, which was produced in collaboration with Oxford Economics, the United States is leading the world in the global recovery of the travel and tourism sector, with industry growth and job growth projected to exceed even pre-pandemic levels this year and next year.
The findings show that the US travel and tourism sector will grow at a rate of 35.6 percent this year, contributing nearly $1.5 trillion to the country’s Gross Domestic Product (GDP); this figure is about 5% higher than the international travel and tourism sector, which will grow at a rate of 30.7 percent this year.
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If the present recovery pace continues, the United States might witness a year-over-year increase of 28.4 percent, pushing the travel and tourism sector’s contribution over pre-pandemic levels of $1.9 trillion. By contrast, the travel and tourism industry contributed approximately $1.9 trillion to the economy in 2019, accounting for 8.6% of the country’s GDP.
The travel and tourism sector in the United States will lose nearly 5.5 million jobs by 2020. Employment is predicted to climb by 26.2 percent this year, adding 2.9 million jobs to a total of 14 million.
Employment is expected to grow by another 19.7% in 2022, adding 2.75 million new jobs, bringing the total number of workers to 16.72 million, surpassing pre-pandemic levels.
Domestic travel expenditure grew 40.4 percent this year, with another 22.9 percent growth year-over-year in 2022, according to the research. In 2022, international travel expenditure by Americans is predicted to soar by about 228 percent year over year, totaling $98 billion.
The World Travel & Tourism Council also cautioned that these encouraging signs of recovery and growth could outperform forecasts with the help of governments around the world, which can help facilitate global travel by enacting policies such as allowing fully vaccinated travelers to travel freely without restrictions based on their country of origin or final destination; implementing faster digital entry methods; government recognition of all WHO-authorized vaccines; and supporting the COV.
“”The United States opening its borders and eliminating barriers to important source markets like the United Kingdom and the European Union will deliver a tremendous boost to economies on both sides of the Atlantic,” WTTC President & CEO Julia Simpson stated. “However, the sector’s long-term revival in the United States and throughout the globe is contingent on the United States’ border being open to foreign tourists and making travel more convenient.”
WTTC.org has the whole report and additional information.
International travel restrictions have been lifted, and US Travel & Tourism is rebounding to pre-Pandemic levels. Reference: international travel restrictions.
Related Tags
- u.s. travel and tourism
- u.s. travel association
- travel restrictions by country
- u.s. state department travel
- countries with us travel bans
