Skip to content

Search

Latest Stories

Report: International travel lost $4.5 trillion in 2020

Domestic travel in U.S. mitigates the loss somewhat

Report: International travel lost $4.5 trillion in 2020

INTERNATIONAL TRAVEL SPENDING dropped precipitously worldwide in 2020, leading to a nearly $4.5 trillion loss for the global travel industry, according to an analysis of a report from the World Travel & Tourism Council. In the U.S., however, relatively low declines in domestic travels mitigated losses from international travel, according to the analysis by the U.S. Travel Association.

Travel spending fell 69 percent last year globally and 76 percent for international travel spending in the U.S., according to the article from Aaron Szyf, an economist with USTA. Domestic travel spending globally fell 45 percent, Szyf said citing the WTTC’s annual Economic Impact Report, but the U.S. was one of a few countries in which internal travel continued despite the pandemic.


“Since the U.S. is one of those key markets that managed to sustain a moderate level of domestic travel throughout the pandemic, domestic travel spending in the U.S. declined by a comparatively smaller 36 percent in 2020,” Szyf said in the article.

The decline in travel spending affected the overall economy in several ways. For example, the travel industry’s contribution to the global GDP fell to 5.5 percent in 2020.

“This translates into a 49 percent decline in travel’s global economic output, compared to a 42 percent decline in travel’s economic output in the U.S.,” the article said. “More than 62 million travel jobs were lost globally, a 19 percent drop. This number would have been exponentially higher if not for government retention schemes that supported travel jobs in many countries around the world. In the U.S., travel jobs declined by a significantly higher 34 percent in 2020.”

Szyf said WTTC still expects the travel industry employment to return to 2019 levels by 2022. He also wrote that the sector’s contribution to the GDP will recover by 2023 if vaccinations continue.

“It must be noted that this is a “best case” scenario,” the article said. “There are possible downside risks, including a slower relaxation of restrictions, slower vaccine rollout or a premature phasing out of government job protection schemes that can slow the recovery.”

USTA’s own forecast, predicated on a baseline that takes these risks into account, places the recovery a little further down the road, in 2024 and 2025.

Several recent surveys, including one by G6 Hospitality, found that travelers are optimistic about their trip plans for this year.

More for you

G6 Hospitality Launches 24/7 Guest Support From August 1
Photo credit: G6 Hospitality

G6 launching 24x7 guest support on Aug. 1

Summary:

  • G6 Hospitality will launch 24x7 guest support on Aug. 1, expanding the current 18-hour window.
  • Escalations from phone, email and social media will be handled promptly by trained staff.
  • The service supports G6’s tech and service investments, including the AI-powered My6 app.

G6 HOSPITALITY, PARENT of Motel 6 and Studio 6, will launch a 24x7 customer support service for guests starting Aug. 1. The service extends the previous 18-hour window to full-day availability via phone, email and social media.

Keep ReadingShow less
Chart showing decline in U.S. extended-stay hotel occupancy and RevPAR in May 2025

Report: May fifth month for drop in extended-stay occupancy

Summary:

  • Extended-stay occupancy fell 2.2 percent in May, the fifth straight monthly decline; ADR and RevPAR also dropped for a second consecutive month.
  • May marked 44 straight months of supply growth for the segment at 4 percent or less, with annual growth below the 4.9 percent long-term average.
  • Extended-stay room revenues rose 0.5 percent, while total industry revenue grew 0.9 percent, led by segments with little extended-stay supply.

EXTENDED-STAY HOTEL occupancy fell 2.2 percent in May, the fifth consecutive monthly decline, exceeding the 0.7 percent drop reported for all hotels by STR/CoStar, according to The Highland Group. Extended-stay occupancy was 10.5 percentage points above the total hotel industry, at the lower end of the long-term average premium range.

Keep ReadingShow less
Auro Hotels Showcases India Culture at TCMU Exhibit

Auro unveils 'India Cultural Corner' for children

Summary:

  • Auro Hotels opened the India Cultural Corner, where children can check in and explore Indian culture at The Children's Museum of the Upstate.
  • Families can engage with community art, activities and storytelling about daily life in India.
  • The exhibit runs through May 2026, offering interactive learning on Indian culture.

AURO HOTELS RECENTLY opened the India Cultural Corner at The Children's Museum of the Upstate in Greenville, South Carolina, offering a look into Indian stories for American families. The exhibition, held at The Grand Geo Hotel and running through May 2026, includes a hotel desk where children can check in and explore Indian culture through interactive activities.

Keep ReadingShow less
U.S. Firms Lose $2.4 Trillion by Skimping on Business Travel

Report: Business travel gaps cost U.S. firms $2.4T

Summary:

  • U.S. companies risk losing more than $2.4 trillion in sales due to underinvestment in business travel, says GBTA.
  • An 8.3 percent T&E increase could drive a 6 percent sales gain, despite post-COVID virtual meeting tools.
  • Current T&E spending is $294 billion—$24 billion short of the $319.1 billion needed for peak profitability.

U.S. COMPANIES ARE missing more than $2.4 trillion in potential sales due to underinvestment in business travel, according to a Global Business Travel Association report. Despite a post-pandemic rebound, travel and entertainment spending remains $66 billion below 2019 levels.

Keep ReadingShow less
AI threats in hospitality

Study: Cyberattacks on hotels to surge

Summary:

  • Around 66 percent of hotel IT and security executives expect more cyberattacks this summer, and 50 percent anticipate greater severity, according to VikingCloud.
  • Guest-facing systems most at risk include POS and payment technology at 72 percent, guest WiFi at 56 percent and front desk systems at 34 percent.
  • About 48 percent of executives lack confidence in their staff’s ability to detect and respond to AI-driven attacks and deepfakes.

APPROXIMATELY 66 PERCENT of hotel IT and security executives expect an increase in cyberattack frequency and 50 percent anticipate greater severity during the summer travel season, according to cybersecurity firm VikingCloud. In summer 2024, 82 percent of North American hotels experienced a cyberattack and 58 percent were targeted five or more times.

Keep ReadingShow less