According to Hopper’s Summer 2022 Travel Guide, more than half of Americans plan to travel for pleasure this summer, indicating that they are eager to go back on the road. Most tourists are going on vacation or to see family and friends—24% are traveling for the first time since the COVID-19 outbreak. With soaring flight… Read more »
The Travel & Tourism sector was ravaged by COVID-19 concerns, mandated lock-downs, and international mobility restrictions. In 2020, the global Travel & Tourism industry lost USD 4.5 trillion. Hit particularly hard, the sector’s overall contribution to GDP declined by 49.1% from 10.4% in 2019 to 5.5% in 2020, compared to a global GDP decline of… Read more »
The travel sector, largely decimated in 2020 by the global pandemic, has gotten a proverbial “shot in the arm” so far in 2021 resulting from widespread COVID vaccinations. As of April 18th of this year, over half (50.4%) of the U.S. adult population had received at least one dose of a vaccine with close to… Read more »
The Travel and Leisure market has been one of the most negatively affected markets over the past year, accounting for 39% of all jobs lost in the U.S. during COVID-19 shutdowns.1 In a short period of time, sporting events were cancelled, schools were closed, travel halted, the unemployment rate skyrocketed and those who were able… Read more »
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