The latest research from the World Travel & Tourism Council (WTTC) reveals the U.S. Travel & Tourism sector could experience year-over-year growth of 35.6% in 2021, significantly outpacing the year’s overall global tourism recovery.
The outlook is even more rosy for 2022, with the travel sector in the U.S. expected to grow by another 28.4%, reaching nearly $2 trillion of the U.S. economy for a contribution exceeding pre-pandemic levels.
By comparison, in 2019, the U.S. Travel & Tourism sector’s contribution to GDP represented nearly $1.9 trillion (8.6% of the U.S. economy). However, in 2020, when the pandemic brought international travel to an almost complete standstill, the contribution to the sector dropped 41% to just $1.1 trillion (5.3% of the U.S. economy).
“Our research shows that while the global travel & tourism sector is slowly beginning to recover, the U.S. is recovering faster than many other regions,” said Julia Simpson, WTTC President & CEO.
“Last year, the pandemic decimated more than five million Travel & Tourism jobs across the U.S.; however, due to a predicted rise in international and domestic spend this year and next, both jobs and GDP are on the rise.”
Simpson added: “The U.S. opening its borders and easing restrictions to major source markets such as the UK and the EU will provide a massive boost to economies on both sides of the Atlantic. However, the long-term recovery of the sector in the U.S and around the world depends on the U.S. border remaining open to international visitors and making travel easier.”
