US travel spending fell 42per cent, down US$492 billion in 2020: industry group

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Americans spent 42per cent less on travel in 2020 as U.S. spending fell US$492 billion amid the COVID-19 pandemic, according to an industry group.

FILE PHOTO: Passengers arrive on a flight from London amid new restrictions to prevent the spread of coronavirus disease at JFK International Airport in New York City, U.S., December 21, 2020.

Eduardo MunozU.S. Travel Association said the industry shed 5.6 million direct and indirect jobs last year as the decline in travel cost the U.S. US$1.1 trillion in total economic output, falling to US$1.5 trillion over 2019's US$2.6 trillion. U.S. tax revenue collected from travel also fell by US$57 billion in 2020.

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$492~500b Huge bussiness model

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