The U.S. Is Losing $3 Billion Per Week From International Tourism
September 9, 2020
Tourism and hospitality were some of the hardest hit industries when the virus broke out. While things have recovered somewhat domestically, international travelers are still wary of U.S. destinations, which is costing the U.S. $425 million per day in lost revenue.
The data comes from the World Travel and Tourism Council (WTTC), who estimates that the pandemic could wipe out more than $155 billion in lost revenue. The organization goes on to warn that it make take years for the industry to fully recover and some changes may be permanent, such as New York losing its status as a premier destination for both business and leisure travels.
Most worrying is that the WTTC estimates that the losses could result in the elimination of up to 12 million jobs.