travel economic impacts
After a year when the COVID-19 virus has devastated the world’s tourism industry and thwarted vacation plans of millions of travelers, vaccinations have arrived that offer hope that 2021 may usher in some return to normalcy.
And none too soon for baby boomers, who have seen precious travel time and opportunities slipping away: cruises cancelled, tours postponed, bucket-list destinations closing their borders.
The fact that all this has been necessary to curb the ravages of the killer virus doesn’t make it any less painful — especially when you factor in the economic toll on tourism-dependent destinations. Estimates are that one in ten jobs worldwide are travel- and tourism-related.
You may have experienced it yourself when battling humongous lines to enter San Marco in Venice, the Uffizi Gallery in Florence, or the Sistine Chapel in the Vatican, or when you found yourself in a wave of fellow travelers struggling to get a peek at the changing of the guard at palaces in London, Athens, or Prague.
You may have been put off by hordes of drunken revelers in Amsterdam, Mallorca, or Berlin (of which, we trust, you were not one yourself).
You may have found small Alaskan ports or Croatian islands too overrun by your fellow cruise ship passengers to appreciate the beauty that attracted you to such cruise itineraries in the first place.
You may have sought out privacy in Iceland’s hot springs, only to find them packed with Game of Thrones fans drawn… Continue reading
According to the National Travel and Tourism Office, there was a four percent decline in the number of international visitors to the U.S. during the first six months of 2017 compared to the first six months of 2016.
And according to a recent International Trade Report released by the Commerce Department, spending by international travelers to the U.S. decreased by 3.3 percent through November 2017 compared to November 2016. Total spending by international travelers to the U.S. came to $246 billion, according to figures from the U.S. Travel Association (USTA), a trade group representing travel industry members.
That 3.3 percent decrease translates to a $4.6 billion loss to the U.S. economy as well as 40,000 jobs in tourism-related industries (hotels, restaurants, transportation, stores, tour operators, travel agencies, etc.)
But the ripple effects… Continue reading