UNWTO | January 14, 2022
The important role that tourism will play in the recovery of national economies and global trade has been highlighted in the 2022 edition of the World Economic Situation and Prospects (WESP) report by the United Nations. Drawing on data from the World Tourism Organization (UNWTO), WESP underlines the sector’s importance for the world economy and particularly for developing economies, including Small Island Developing States (SIDS). After a global contraction of 3.4% in 2020 and a rebound of 5.5% in 2021, the world economy is projected to grow by 4% in 2022 and then 3.5% in 2023. Given its importance as a major export category (prior to t...
Expedia Group | October 14, 2020
SEATTLE - A new Expedia Group study, in partnership with global research firm BVA BDRC, examines the contributions of online travel agencies (OTAs) to the US travel and tourism sector, the spending patterns of OTA travelers, and the role of OTAs in the hotel booking journey. The research points to the increasing importance of OTA travelers to propel economic recovery for the US travel industry. Key findings Traveler Preferences Traveler Behaviors Travelers are 57% more likely to book their travel through an OTA now than before COVID-19 Domestic OTA travelers spend 16% more per trip and 5% more on-property tha...
U.S. Travel Association | October 1, 2020
WASHINGTON (October 1, 2020)—The CEOs of 17 of the largest U.S. travel companies joined the U.S. Travel Association in the following statement pleading with leaders in Washington to advance a subsequent round of legislative relief from the economic fallout of the COVID-19 pandemic: “In the strongest possible terms, we urge Congress and the administration to reach agreement before the election on a relief package that will give travel employers—and the millions of livelihoods they support—a fighting chance to survive. “We represent an industry that accounts for nearly 40% of all the U.S. jobs that have been lost to the coronavi...
the U.S. Travel Association | June 4, 2020
WASHINGTON (June 4, 2020)—U.S. Travel Association Executive Vice President of Public Affairs and Policy Tori Emerson Barnes issued the following statement on Senate passage of H.R. 7010, the package of Paycheck Protection Program enhancements that had been previously approved by the House: "The PPP changes passed by both chambers are another important step in providing relief to small businesses that otherwise will not survive until the economic recovery phase." "The modification to the portion of funds that can be used for non-payroll expenses is especially crucial to travel-related small businesses, which have comparatively high cap...
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