The U.S. Travel Association came out with a report on July 16th that displays the national, regional, and statewide findings for travel expenditures. Below are key findings from this analysis:
- The recovery in travel spending slowed in the week ending July 11th. Spending fell compared to the prior week which included the July 4th holiday weekend. Compared to two weeks ago, travel spending increased by 5%.
- National weekly travel spending fell 10% from the previous week, dropping to $11.8 billion. Despite this decline, travel spending remains higher than its level two weeks ago, even without the assistance of the holiday weekend. Car trips fell precipitously, down about 18% from the prior week, while air travel remained even.
- The travel economy measured 50% below last year’s levels for the week ending July 11th, registering an $11.6 billion loss when compared to the same week a year ago. Since the beginning of March, the COVID-19 pandemic has resulted in almost $285 billion in losses for the U.S. travel economy.
To view the various travel expenditure breakdowns in table and chart form, click here.
MK
