In the quake of the astonishing 4000,000 jobs lost in the travel industry in 2008 – 2009, replacing 90,000 positions is a good sign that the economy is regaining its strength. With business travel, leisure travel and international travel to the United States all expected to rise by at least two percent during 2010 these jobs look promising.
“The travel industry shares President Obama’s goal of putting Americans back to work. Our industry is uniquely capable of adapting to economic upswings and quickly adding tens of thousands of jobs,” said Roger Dow, president and CEO of the U.S. Travel Association.
The increase in travel means there will be more money spent in various sectors of the travel industry. This means that some of those positions that had been cut in order to reduce operating costs in the industry can be filled once again.
Leisure travel is expected to increase by two percent and leisure travel spending by five percent. As more companies include additional monies in their travel budgets, spending in the business sector is expected to increase by approximately four percent.
Dr. Suzanne Cook notes that the anticipated growth in leisure travel is a good indication that consumers are regaining their confidence in the economy and they’re willing to spend some of their hard-earned money on leisure travel. “Following a difficult 2009, businesses have a heightened focus on the value and bottom-line benefits of travel,” states Cook.
Although overseas travel is expected to remain below 2000 levels which was 26.0 percent (This figure excluded Canada and Mexico), international inbound travel is expected to rise by almost three percent. The lack of increase in the overseas market is of concern to the industry, however. This is because the average overseas traveller spends an average of $4,500.00 per trip.
Because the travel industry accounts for 7.7 million American jobs, this will contribute to the recovery of only less than twenty-five percent of those jobs that were lost in the travel sector of the economy last year.