Reported 1 day ago
The US is projected to face a staggering loss of $12.5 billion in travel revenue by 2025, as visitor spending is expected to drop below $169 billion, reflecting a 7% year-over-year decline and a 22% decrease since the tourism peak in 2019. The decline is attributed to lingering effects of COVID-19 protocols, a strong dollar, and changing sentiments towards travel to the US. Major tourist markets are experiencing significant drops, with New York City anticipating 400,000 fewer tourists and $4 billion less in spending than the previous year. Recovery to pre-COVID levels may not occur until 2030.
Source: YAHOO