US Travel Association | MORAL COMPASS: Great Places to Go Where the Going Does Good

Discovering the delights of the Mesquite Flat Sand Dunes, Death Valley National Park. National Travel and Tourism Week 2021 reminds people of the importance of the $2.6 trillion travel industry that supports 17 million jobs and an infinite number of life-long memories and experiences © Karen Rubin/goingplacesfarandnear.com

National Travel and Tourism Week (NTTW) taking place May 2-8 is the annual celebration of the contributions of the U.S. travel industry. This year, it spotlights the critical role that travel will play in driving economic recovery efforts and building the path forward through the theme Power of Travel.

Celebrated annually the first full week in May, NTTW was created by Congress in 1983 to elevate the economic power of travel in the U.S. This year, the 38th annual NTTW arrives at an opportune moment to recognize the importance to the U.S. economy of initiating a post-pandemic travel recovery.

“NTTW takes on a special significance this year as the travel industry looks to rebound quickly from the pandemic and accelerate recovery efforts,” said U.S. Travel Association President and CEO Roger Dow. “The past year was incredibly challenging, but we saw the full power of the travel industry on display in the way we united and supported one another through this crisis.”

“Before the pandemic, travel generated $2.6 trillion in economic output, supported 17 million American jobs and delivered a $51 billion trade surplus to the U.S.—evidence of the outsized role the industry will play in America’s broader economic recovery,” said Dow.

However, this vital revenue source stemming from business and leisure travelers was severely diminished amid the pandemic.

In 2020, the entire U.S. travel industry lost half a trillion dollars in travel-related spending—10 times the economic impact of 9/11. Nationally, total travel-supported jobs accounted for a staggering 65% of all U.S. jobs lost amid the pandemic.

With such disparate losses, it is clear that a broader economic recovery hinges on a recovery within the travel industry.

“While the rapid pace of vaccinations has provided hope that a return to normal is on the horizon, a resurgence in travel demand is not inevitable,” the USTA said in a statement. “Without aggressive federal action to reopen the travel economy and spur demand, the travel industry’s recovery is expected to take as long as five years—far too long to wait for the workers whose livelihoods depend on this vital industry.

“But with the right measures in place, we can get people moving again in a safe and healthy way, restore our workforce and help power a broader economic recovery. The travel industry needs sustained relief to ensure businesses can maintain operation and workers can stay on payrolls until sustained demand can truly take hold.

“Importantly, policymakers must also identify the path to reopening our borders and safely restarting international inbound travel, as well as restarting professional meetings and events; these are crucial segments of our local economy, without which we cannot fully recover.

“The road ahead is challenging, but the travel industry is resilient and has an incredible ability to bounce back from hard times. We recovered after 9/11, after the 2008 financial meltdown, and after health scares such as Zika, Ebola and SARS. This is the toughest challenge the U.S. travel industry has ever faced, but we know travel is one of the best-equipped industries to lead a revival.

“If lawmakers act now to jumpstart recovery efforts and get Americans moving, then all of us can get back to doing what we do best more quickly—providing quality job opportunities for Americans of all background, reconnecting family and friends, and showing the world what makes the U.S. the best place to visit.”

This week, TSA reported the highest number of travelers coming through airports, 1.6 million, while car rentals, hotels, AirBnBs and attractions, especially those around national parks, are booking up, a clear demonstration of pent-up demand being unleashed. Now the question is whether the industry will be able to accommodate it and how long it will be sustained. That will depend largely on the ability of the nation to vaccinate as many people as possible, so that travelers and workers feel safe and venues can increase capacity and operating hours.

National Travel and Tourism Week also reminds travelers of the pleasures and value of travel – of getting together, sharing the delight in exploring and learning and doing new things, meeting new people where they live, embracing other cultures and environments, and sharing memorable, even life-changing experiences.

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The U.S. Travel Association and American Hotel and Lodging Association joined the growing list of business leaders and economists who see President Biden’s American Rescue Plan as critical to addressing the economic crisis caused by the pandemic.

The travel industry supports 15.8 million or nearly 1 in 10 American jobs. In a report, the U.S. Travel Association noted in a report that COVID-19 has devastated the travel industry more than any other sector of the economy. In order to get Americans back to work and safely resume travel, the U.S. Travel Association President and CEO said that there has to be immediate action to pass the American Rescue Act.

Robert Dow, U.S. Travel Association President and CEO praised the American Rescue Plan in a speech yesterday, saying “We are encouraged by the measures to provide additional grants and loans to small businesses in the hardest-hit industries, which include travel. The Paycheck Protection Program is set to expire in March, but the economic hardships of the pandemic will persist, so it is important that struggling businesses continue to receive aid to maintain operations and keep workers on payrolls.”

Dow added “there are important components contained in President Biden’s American Rescue Plan to help us rebuild, such as providing grants for the hardest hit industries, including travel. Also included in the President’s proposal is additional funding for vaccine distribution which we know is vital to helping travel businesses more robustly reopen.”

And, the market data analyst, STR, recently said that the American Rescue Plan’s proposal for widespread vaccinations would help get the industry back on track “these opening months of the year are going to resemble some of the :slowest of 2020, but we are optimistic that hotel demand will improve as vaccine distribution becomes more widespread and travel confidence grows,” said Amanda Hite, president of STR. “While the early indicators should be visible in Q2, we expect Q3 to be the point where leisure travel shifts into high gear and corporate and group business show more progressive improvement. That will feed into a 2022 that shows a higher level of recovery.”

Meanwhile, the American Hotel & Lodging Association released AHLA’s State of the Hotel Industry 2021” outlining the forecasted state of the hotel industry in 2021 and into the immediate future. The report examines the high-level economics of the hotel industry’s recovery, the specific impact on and eventual return of business travel, and consumer travel sentiments.

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