{"id":5143,"date":"2020-05-06T19:17:31","date_gmt":"2020-05-06T19:17:31","guid":{"rendered":"https:\/\/blog-origin.redweek.com\/blog\/?p=5143"},"modified":"2020-05-06T19:17:33","modified_gmt":"2020-05-06T19:17:33","slug":"how-will-the-travel-industry-change","status":"publish","type":"post","link":"https:\/\/blog-origin.redweek.com\/blog\/2020\/05\/06\/how-will-the-travel-industry-change\/","title":{"rendered":"How Will The Travel Industry Change? | US Travel Association Report"},"content":{"rendered":"\n<h4 class=\"wp-block-heading\"><strong>According to a report detailing the predicted impact of COVID-19 on the United States Travel Economy released by the <\/strong><a href=\"https:\/\/www.ustravel.org\/toolkit\/covid-19-travel-industry-research\"><strong>U.S. Travel Association<\/strong><\/a><strong>, industry downturns are expected in the travel industry in 2020 as a result of the pandemic. <\/strong><a href=\"https:\/\/www.ustravel.org\/sites\/default\/files\/media_root\/document\/Coronavirus2020_Impacts_April15.pdf\"><strong>Read the full report<\/strong><\/a><strong>, or browse a few of the document\u2019s key findings below:<\/strong><br><\/h4>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"317\" src=\"https:\/\/blog-origin.redweek.com\/content\/uploads\/2020\/05\/Untitled-design.jpg\" alt=\"\" class=\"wp-image-5144\" srcset=\"https:\/\/blog-origin.redweek.com\/content\/uploads\/2020\/05\/Untitled-design.jpg?v=129e85a03a79815cf72d2ca806ba3deb 600w, https:\/\/blog-origin.redweek.com\/content\/uploads\/2020\/05\/Untitled-design-250x132.jpg?v=129e85a03a79815cf72d2ca806ba3deb 250w, https:\/\/blog-origin.redweek.com\/content\/uploads\/2020\/05\/Untitled-design-120x63.jpg?v=129e85a03a79815cf72d2ca806ba3deb 120w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/figure>\n\n\n\n<div style=\"height:39px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Financial Impact of COVID-19<\/strong><br><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>Travel industry losses will result in a GDP impact of<strong> $1.2 trillion <\/strong>in 2020<\/li><li>In the week ending April 25, the travel economy fell<strong> 89% below last year&#8217;s levels<\/strong> (a<strong> $19.6 billion loss<\/strong>) and registered a new low<\/li><li>Since the beginning of March, the COVID-19 pandemic has resulted in<strong> $119 billion in cumulative losses <\/strong>for the U.S. travel economy<\/li><li>Vermont, Alaska and Mississippi are the only states to experience a year-over-year decline in travel spending of less than 80% last week, while Hawaii and Washington, D.C. endured another week of<strong> declines of more than 95%<\/strong><\/li><\/ul>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Tracking Search and Booking Behavior&nbsp;<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>Travel searches were <strong>81% lower<\/strong> than the same period last year<\/li><li>New bookings were <strong>87% lower<\/strong> than the same period last year (from 88%)<\/li><\/ul>\n\n\n\n<div style=\"height:23px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Impact of Coronavirus on Travel Intentions<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>Travelers are starting to feel a little safer about engaging in all travel-related activities like staying in a hotel (<strong>17%<\/strong>) and or visiting a park (<strong>31%<\/strong>)<\/li><li>Travelers are becoming <strong>more eager to travel <\/strong>when it will be safe and possible than they were two weeks ago\u2014particularly taking domestic road trips closer to home<\/li><li>The likelihood that travelers place on actually traveling domestically in coming months has also <strong>increased <\/strong>in the most recent survey<\/li><\/ul>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Back-to-Normal Barometer<\/strong><\/h3>\n\n\n\n<p>What will it take to get Americans to travel? <a href=\"https:\/\/www.ustravel.org\/sites\/default\/files\/media_root\/document\/BTN%20Wave%202%20US%20Travel%20presentation.pdf?utm_source=MagnetMail&amp;utm_medium=email&amp;utm_content=4%2E30%2E20%20%2D%20COVID%20Research%20Weekly&amp;utm_campaign=ust\">Engagious <\/a>looked into public opinion insights of consumer sentiment around leisure activities:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Roughly one-third of customers would return right now to their regular activities (including hotels and airline travel) without hesitation if that was a possibility, while another third is waiting for a medical breakthrough (vaccine or treatment)<\/li><li>With assurances that it is safe to do so, 57% would go on an overnight trip within three months<\/li><li><strong>More than half (55%) of business travelers expressed that health screenings at public venues would have an extremely positive impact on their willingness to visit (compared to 42% for leisure travelers)<\/strong><\/li><li>More than half of travelers would be open to participating in medical screenings (temperature check and\/or swab test) upon entering a hotel or casino, but a sizable minority would refuse or seek other locations<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"According to a report on the impact of COVID-19, U.S. Travel Industry downturns are expected in the travel industry in 2020 as a result of the pandemic.","protected":false},"author":8,"featured_media":5144,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1138],"tags":[3661,3671,3660,3682,3636,3678,3681,3397,3030,3680,3679,3398,3535],"yst_prominent_words":[],"class_list":["post-5143","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-travel-news","tag-coronavirus","tag-covid","tag-covid-19","tag-industry-news","tag-redweek","tag-regulations","tag-timeshare-industry","tag-timeshare-owners","tag-timeshare-rentals","tag-travel-economy","tag-travel-industry","tag-travel-news","tag-vacation-rentals"],"acf":[],"_links":{"self":[{"href":"https:\/\/blog-origin.redweek.com\/blog\/wp-json\/wp\/v2\/posts\/5143","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog-origin.redweek.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog-origin.redweek.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog-origin.redweek.com\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/blog-origin.redweek.com\/blog\/wp-json\/wp\/v2\/comments?post=5143"}],"version-history":[{"count":1,"href":"https:\/\/blog-origin.redweek.com\/blog\/wp-json\/wp\/v2\/posts\/5143\/revisions"}],"predecessor-version":[{"id":5145,"href":"https:\/\/blog-origin.redweek.com\/blog\/wp-json\/wp\/v2\/posts\/5143\/revisions\/5145"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog-origin.redweek.com\/blog\/wp-json\/wp\/v2\/media\/5144"}],"wp:attachment":[{"href":"https:\/\/blog-origin.redweek.com\/blog\/wp-json\/wp\/v2\/media?parent=5143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog-origin.redweek.com\/blog\/wp-json\/wp\/v2\/categories?post=5143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog-origin.redweek.com\/blog\/wp-json\/wp\/v2\/tags?post=5143"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/blog-origin.redweek.com\/blog\/wp-json\/wp\/v2\/yst_prominent_words?post=5143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}