This section provides Travel and Tourism links and resources to assist your startup or small business.
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COVID-19 Industry Impact
The U.S. Travel Association reports that due to the COVID-19 pandemic, the travel industry will see a 45% decrease with a revenue loss of $519 billion in travel spending, which includes both international and domestic travel. According to a report from Hotel Management, the expected impact of the pandemic on the travel industry will be “nine times worse than 9/11”. The Novel Coronavirus has also directly and indirectly impacted other sectors within the industry. Hotels, bed and breakfasts, restaurants, attractions, and other areas have reopened. While airlines were not grounded, they were carrying a few passengers during state shutdowns. Most of the businesses within the industry have implemented new strategies such as using PPE, social distancing, facemasks, and educating employees on the latest practices to ensure the protection of customers and co-workers. However, reopening has proven difficult due to the difficulty in combating the coronavirus.
However, according to Forbes, the travel industry is helping create new ways of beating the pandemic. Airports are using UV-cleaning robots to kill coronavirus on surfaces. The hospitality industry is looking at using robots to help clean rooms, providing contactless or keyless entry to rooms. The sector will encourage travelers to self-enroll in contact tracing apps to assist local authorities with tracking confirmed cases. Innovation will be the key to helping the travel industry bounce back from the coronavirus pandemic, which will allow people to travel again safely.
- The US Travel Association – COVID-19 travel trends and statistics
- STATE OF THE INDUSTRY – COVID-19 SIX MONTHS LATER – from the American Hotel & Lodging Association
- COVID-19 impact on hotels and short-term rentals – from STR
- New Study Reveals Dire Extent of COVID-19 Impact on Travel – from Travel Pulse
- New Data Shows COVID-19’s Impact on Hotel Industry – from Travel Pulse
- The Economic Impact of COVID-19 on the Hotel Industry – from Hospitality Technology
- Research breaks down COVID-19’s impact on hotels, travel plans – from Hotel Management
- The Week in Transportation – Weekly transportation statistics during COVID-19 from Bureau of Transportation
- Airlines for America – Report on the impact of COVID-19 on the airline industry.
- Stats: Half of Travelers Plan to Take Next Vacation In 2020 – From Travel Agent Central
- This Is How 2020 Became A Lost Year For Travel – from Forbes
- Hotels vs. Airbnb: Has Covid-19 Disrupted the Disrupter? – from The New York Times
- Staycationers are saving hotels and Airbnb from covid-19 – The Economist
- The Results Are in for the Sharing Economy. They Are Ugly – from The New York Times
- The sharing economy will have to change – from the Economist
Reopening Guidelines (For more information please see our reopening guide)
- US Travel Association – Industry guide on reopening
- Travel Industry Guidelines for Reopening – Reopening guidelines from various travel associations
- How Tourist Destinations Are Reconfiguring to Reopen Safely – from the Wall Street Journal
- Future of Tourism – Guiding Principles
- Enhanced Industry-wide Hotel Cleaning Guidelines in response to COVID-19 – American Hotel & Lodging Association
- Covid-19 Guide: Resources for tour and activity operators – From Trekksoft
Future of the Industry
- Does the Travel Industry Have A Future? – from Forbes
- 11 Ways the Pandemic Will Change Travel – from The Washington Post
- New Future for Travel Agents Online, Post-COVID-19 – from Hospitalitynet
- 6 Travel Trends that Will Be Big Post-Lockdown – Conde Nast Traveler
- First to Suffer, First to Innovate: Why the Travel Industry Will Lead the Way in Overcoming This Pandemic – from Forbes
- If 2021 Becomes The Year Of Travel, This Is What Will Happen – from Forbes
- Why Technology Is The ‘Shot In The Arm’ Hospitality Companies Need Now – from Forbes
- How Technology Will Reshape the Hotel Industry Post-COVID-19 Pandemic – from Travel Pulse
- How hotel tech adoption will be a route to recovery – from Hotel Management
- How Will Covid-19 Affect Future Travel Behavior? A Travel Crisis Expert Explains – from The New York Times
Travel and Tourism Industry Overview
The U.S. Travel Association reports that in 2019, domestic travel increased 1.7% totaling 2.3 billion person-trips. With spending of $972 billion in 2017, domestic leisure accounted for 80% of all tourism in the U.S. The report also highlights the direct and indirect economic impact of the industry, with foodservices and lodging making up the top two spending categories for domestic and international travelers.
Business Associations
- American Hotel & Lodging Association
- Professional Association of Innkeepers International – Name change: Association of Lodging Professionals
- Boutique & Lifestyle Lodging Association
- United States Tour Operators Association
- National Association of RV Parks and Campgrounds
- National Tour Association
- Hosteling International – American Youth Hostels
- Dude Ranchers Association
- American Car Rental Association
- Adventure Travel Trade Association
- Cruise Lines International Association
Business Publications
- Travel Weekly
- Travel Pulse
- Hospitality Net: Latest News
- Hotel News Now
- Travel Agent Central
- Travel Mole
- Hotel News Resource – Coronavirus news for the industry
Travel and Tourism Industry Information
- The US Travel Association – reports facts on domestic and international facts
- Indicators and Forecast – from the International Trade Administration
- Travel and Hospitality Industry Outlook, 2019 – from Deloitte
- Travel and Tourism Research Association – provides various research studies
- Statistics to Know – from Trekk Soft’s annual travel trend report
- What is the Travel Industry – An outline of the travel industry
Accommodation
- PWC Hospitality Research– forecasts hospitality trends
- Accommodation and Food Services Industry Information – industry employment data from the Bureau of Labor Statistics
- Airbnb & Hotel Performance – from STR
Transportation
- Airlines for America – insights on air transportation in the U.S. and the economic impact
- Transportation Statistics Annual Report – compiled by the Bureau of Transportation Statistics
Trending Topics in Travel and Tourism
Technology in Tourism
- How Virtual Reality Could Help the Travel & Tourism Industry in The Aftermath of The Coronavirus Outbreak – from Forbes
- The Age of Virtual Reality Tourism Is Fast Approaching – from Forbes
- 4 Ways Tech Will Disrupt the Travel Industry in 2020 – from Entrepreneur.com
- Here are the biggest travel technology trends for 2020 – from Business Journal
Conscious Travel
- Ecotourism Explorer– from the International Ecotourism Society
- Eco Tourism– a checklist for starting a nature tourism business from TX Parks and Wildlife
- Sustainable Tourism Certification Checklist – from the Hawai’i Ecotourism Association
- 69% Of U.S. Travelers Say Sustainable Travel Is Important to Them – from Travel Agent Central
- Sustainable travel and the impact of climate change on tourist perceptions – from STR
Sharing Economy
- The Impact of the Sharing Economy on Modern Travel – from Travel Technology & Solutions
- How the Sharing Economy Is Making Travel More Accessible and Affordable – from Adventure in You
- Future of the sharing economy in travel and tourism – article on the profit problems of the sharing economy
- How the Sharing Economy Is Taking Over Corporate Travel – Five Reasons why business travel is adopting the sharing economy
Additional Resources
Already in business or thinking about starting your own small business? Check out our various Small Business Snapshots and our Sample Business Plans collection. Remember, you can also receive free professional business advice and free or low-cost business training from your local Small Business Development Center!
Photo by Jonathan Riley on Unsplash
