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Washington DC & Mid-Atlantic  + Hospitality  |  November 18, 2020
David Cohen
By: David Cohen

Report: Travel Spending in U.S. to Fall by 45% in 2020

Travel spending in the U.S. is expected to finish the year 45% down from 2019 levels, according to recent figures released by the U.S. Travel Association. Further, the organization projects that travel spending will not return to pre-pandemic levels until 2024.

The firm’s 2020 projected travel spending figure of $617 billion is a large drop from the $1.13 trillion spent on travel in the U.S. overall in 2019. The numbers reflect a decline of 34% in domestic leisure travel spending but also reflects sharper drop-offs in the domestic business (55%) and international inbound (77%) markets.

Travel has been hit particularly hard by the ongoing COVID-19 pandemic and currently accounts for 33% of overall unemployment in the U.S. Approximately 40% of all direct travel jobs have gone away over the past seven months.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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