US to lose USD155 billion from collapse of international travel

Wednesday, 03 Sep, 2020 0

The shutdown of international travel is set to burn a $155 billion hole in the US economy.

That is the amount the US could lose due to the collapse of international travel in 2020, says the World Travel & Tourism Council.

Latest research predicts international visitor spending in the US could be down by as much as 79%.

That represents a massive $425 million every day.

Under a ‘worst case’ scenario mapped out by WTTC, 12.1 million US jobs supported by tourism are at risk.

"The economic pain and suffering caused to millions of households across the US who are dependent upon travel and tourism for their livelihoods, is evident from our latest shocking figures," Gloria Guevara, WTTC President & CEO.

"It may take years to recover. It could also threaten New York’s position as one of the world’s premier hubs for business and leisure travel."

The WTTC called for a swift resumption of transatlantic travel to aid the recovery.

"It would benefit airlines and hotels, travel agents and tour operators and revitalize the millions of jobs in the supply chain which are dependent upon international travel across the Atlantic," Guevara said.

"We urgently need to replace blanket quarantine measures with rapid, comprehensive and cost-effective test and trace programs at departure points across the country. This investment will be significantly less than the impact of blunt quarantines."

 

Written by Ray Montgomery, US editor



 

profileimage

TravelMole Editorial Team

Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.



Most Read

Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know

Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham

Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago

Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research

Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact

Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference

Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role

Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal

Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination

Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness

Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future

Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
TRAINING & COMPETITION
Skip to toolbar
Clearing CSS/JS assets' cache... Please wait until this notice disappears...
Updating... Please wait...