Business & Finance
US travel spending fell 42pc, down $492bn in 2020
- US Travel Association said the industry shed 5.6 million direct and indirect jobs last year as the decline in travel cost the US $1.1 trillion in total economic output, falling to $1.5 trillion over 2019's $2.6 trillion. US tax revenue collected from travel also fell by $57 billion in 2020.
WASHINGTON: Americans spent 42% less on travel in 2020 as US spending fell $492 billion amid the COVID-19 pandemic, according to an industry group.
US Travel Association said the industry shed 5.6 million direct and indirect jobs last year as the decline in travel cost the US $1.1 trillion in total economic output, falling to $1.5 trillion over 2019's $2.6 trillion. US tax revenue collected from travel also fell by $57 billion in 2020.
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