When is US travel spending expected to reach pre-Covid levels?

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US Travel Spending Not Expected to Reclaim Pre-Pandemic Levels Until 2024

US travel spending is not anticipated to rebound to its pre-coronavirus pandemic levels until the year 2024, according to projections by a prominent US travel industry group. This forecast highlights the significant and prolonged impact the global health crisis has had on the sector.
Projected Spending Decline in 2020

The US Travel Association estimates that travel spending will experience a substantial decrease of over US$500 billion in 2020. Their revised projection for 2020 spending stands at US$617 billion, a slight reduction from their earlier July forecast of US$622 billion, and a stark contrast to the US$1.13 trillion recorded in 2019. This downturn is largely attributed to a dramatic reduction in business travel.
Impact on Jobs and International Visitors

The industry has already seen a loss of nearly 40 per cent, or 3.5 million, of direct travel-related jobs. The association warns that an additional 1 million jobs could be lost by the end of the year if further government relief is not provided. International visitor numbers are forecast to decline by 75 per cent in 2020, resulting in a US$119 billion reduction in spending. Current US travel restrictions, which bar most non-US citizens arriving from Europe, China, Brazil, and other regions, contribute to this decline.
Broader Economic and Health Context

These projections coincide with a surge in new Covid-19 infections across the United States, prompting many states to implement new restrictions on indoor activities and, in some cases, temporary bans on indoor dining. The ongoing uncertainty and public health measures continue to suppress travel demand, affecting various segments of the industry, including airlines, cruise lines, and tourist attractions.

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When is US travel spending expected to reach pre-Covid levels?

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