- Travel overall is by far the U.S. industry hardest hit by the ongoing fallout of the COVID-19 pandemic.
- Spending on travel for large, in-person professional meetings and events declined by 76% last year.
- Domestic leisure travel is projected to reach 99% of its pre-pandemic peak in 2022 and to grow steadily thereafter.
Lingering COVID restrictions and a patchwork approach to reopening across the country will prevent the economically crucial business travel segment from recovering until at least 2024, according to a Tourism Economics analysis released Tuesday by the U.S. Travel Association.
Travel overall is by far the U.S. industry hardest hit by the ongoing fallout of the COVID-19 pandemic. Spending on travel for large, in-person professional meetings and events (PMEs) declined by 76% last year—a $97 billion loss in spending.
With vaccinations and infection rates in the U.S. trending favorably, restrictions lowered, and traveler confidence rebounding, domestic leisure travel is projected to reach 99% of its pre-pandemic peak in 2022 and to grow steadily thereafter.
But in the absence of clear and consistent guidance from federal health authorities on PMEs, business-related travel is not expected to recover its pre-pandemic volume for an additional two years. Only about a third (35%) of U.S. businesses are currently engaging in any business-related travel.
A staggering 65% of all U.S. jobs lost in 2020 were supported by travel, and they cannot fully recover without a swift return of all segments of travel, particularly in-person PMEs, according to the analysis.
One of the major factors in the slow return of PMEs is the uneven patchwork of guidance that currently governs large gatherings from jurisdiction to jurisdiction nationwide. U.S. Travel is urging the adoption of federal guidance that is clear and consistent—and that recognizes that health and safety measures can be more readily implemented at PMEs than at other forms of large gatherings.
Leading health care scientists at The Ohio State University today also released a white paper that includes evidence-based analysis—focused on a scientific review of proven health and safety measures substantiated over the last year—showing that it is safe to return to conducting and attending PMEs.
