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Learn moreSep 2020
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The impact of COVID-19 on the travel industry in the US has been swift and widespread. Airlines, car rental agencies and hotels have all seen vast reductions in bookings and revenue in 2020, as have the intermediaries that connect businesses with consumers across the broader travel industry.
As early as 31 January, US health officials issued quarantine orders to US citizens evacuated from Wuhan, China, after the COVID-19 outbreak there. From 2 February, entry was restricted from China, with this later extended to virus-hit Iran and Italy.
COVID-19 caused passenger air travel to fall more than 90% compared to its 2019 levels between mid-March and May 2020. International travel has seen the largest impact due to border closures.
Travel intermediaries saw a sharp increase in cancellations in early 2020 as the COVID-19 pandemic spread throughout the world. Although many intermediaries, including Expedia initially received negative feedback from consumers due to long wait times and difficulties receiving refunds from cancelled trips, the company has since expanded its technological capabilities and ensured that customers are able to efficiently cancel or reschedule trips for later dates.
With the COVID-19 pandemic still playing out in many parts of the world at the time of research, the timeline for a recovery period for the travel industry in the US and globally is still largely uncertain. What is clear is that the industry will continue to suffer throughout the remainder of 2020, with a true recovery likely to start some time in 2021.
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Overview:
Discover the latest market trends and uncover sources of future market growth for the Travel industry in USA with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you are in the Travel industry in USA, our research will save you time and money while empowering you to make informed, profitable decisions.
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This industry report originates from Passport, our Travel market research database.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.