The U.S travel and tourism industry could grow this year by 35.6%

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The U.S travel and tourism industry could grow this year by 35.6%
Source: Twitter @iflymia
November 16, 2021

Jobs will increase by 26.2% compared to the previous year


The World Travel and Tourism Council (WTTC) reported that the United States could register growth in this industry of 35.6 percent in 2021, compared to the previous year; significantly exceeding the recovery of world tourism for this year, forecast at 30.7 percent.
 
According to the most recent study by the organization, which represents the global Travel & Tourism sector, the outlook is more optimistic for 2022, and the travel sector in the United States is expected to grow another 28.4 percent, representing an increase $ 425 billion, contributing nearly $ 2 trillion to its total economy, exceeding pre-pandemic levels.
 
In 2019, the travel and tourism sector's contribution to the United States' GDP accounted for nearly $ 1.9 trillion (8.6 percent of the nation's economy). However, in 2020, when the pandemic almost completely paralyzed international travel, the contribution to the sector fell 41 percent, that is, to only 1.1 trillion dollars (5.3 percent of the national economy).
 
According to the latest research from the WTTC, in collaboration with Oxford Economics, the United States travel and tourism sector can expect an increase of $ 393 billion in 2021, generating a total contribution of almost $ 1.5 trillion to its GDP.
 
Notably, the nation's economy has benefited from an increase in domestic travel, causing spending growth of 40.4 percent ($ 261 billion).
 
Although international traveler spending in the United States will grow only 1.9 percent this year due to prolonged year-round travel restrictions, recent changes in these will provide an increase of almost 228 percent in 2022, bringing it will represent a growth of 98 billion dollars and a total contribution of 141 billion dollars.
 
Also, after the loss of more than 5.5 million jobs in the United States travel sector last year, employment will increase by 26.2 percent in 2021, representing an increase of 2.9 million jobs and a total contribution of almost 14 million jobs, compared to the previous year.
 
In 2022, employment will grow an additional 19.7 percent, signifying a year-over-year increase of 2.75 million jobs and raising total jobs across the United States' travel and tourism sector above pre-pre levels. the pandemic in 16.72 million jobs.
 
Julia Simpson, President and CEO of the WTTC, commented: "The opening of the borders of the United States and the easing of restrictions to the main markets of origin, such as the United Kingdom, will provide a massive boost to the economies on both sides of the Atlantic. However, the long-term recovery of the sector in the United States and around the world depends on the borders of that country remaining open to international visitors and facilitating travel. "
 
According to the research, the sector's contribution to global GDP and job growth could be more positive if governments around the world implement the following measures:
 

  • Allow fully vaccinated travelers to move freely, regardless of their origin or final destination.
  • The implementation of digital solutions that allow travelers to easily prove their covid status, which in turn speeds up the process at borders around the world.
  • For safe international travel to be fully restarted, governments must recognize all vaccines authorized by the WHO.
  • Continued support for the COVAX / UNICEF initiative to ensure equitable distribution of vaccines around the world.
  • Lastly, the continued application of improved health and safety protocols, which will underpin consumer confidence.

If these five measures are followed before the end of 2021, research shows that the impact on the economy and jobs across the United States could be considerable.

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