Travel spending in the United States is expected to drop 45 percent by the end of 2020, according to a forecast prepared for the U.S. Travel Association by Tourism Economics. The prediction spurred renewed calls for federal measures to support the travel industry.
Domestic travel spending is expected to drop 40 percent, from $972 billion in 2019 to $583 billion in 2020. International inbound spending is expected to plunge 75 percent, from $155 billion to $39 billion. Total domestic trips will likely fall by 30 percent to 1.6 billion, the lowest figure since 1991.
The U.S. Travel Association will discuss policies with Congress this week, including extending Paycheck Protection Program eligibility to destination marketing organizations; tax incentives for a strong and safe restart of the travel economy; and more.
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