A forecasted 7.4% increase in U.S. travel spending in 2023 would push the total up to $1.05 trillion. That still would be short of 2019’s $1.127 trillion in U.S. travel spending, but close enough to assume that 2024 travel spending would finally top the 2019 total, though the Tourism Economics forecast did not actually look beyond 2023.
Spending by U.S. residents on travel this year is projected to be off by 40% thanks both to a sharp drop in trips taken and total travel days, and to an estimated 14.7 percent drop in spending per trip. But that painful reduction in spending is modest compared to the forecast 75 percent drop in the amount spent in the United States by foreign travelers .
Not surprisingly, the USTA is using those staggeringly negative numbers in its new forecast to highlight it plea for additional help from Congress and the federal government. New laws protecting travel companies that follow proper health and safety guidelines from frivolous suits related to COVID-19
If Congress offers me a travel voucher, I'll take it.
It needs to stay at those levels or thereabouts, NoBailouts.
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Source: CNBC - 🏆 12. / 72 Read more »