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Research Outline
Prepared for Alex S. | Delivered April 27, 2020
US Travel and Tourism Industry
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Goals
To highlight the impact of 9/11 and the Great Recession (2007-2009) on the travel and tourism industry, including the volume of travelers, economic impact, etc.
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Early Findings
Just before the 9/11 terrorist attack, the US air travel industry was at a "record high with
65.4 million passengers.
" However, this figure plummeted after the attack and did not rise until 4 years later in
July 2005
, by about
9.7%
.
The 9/11 attack not only led to many airlines filing for
bankruptcy
, many air routes and destinations were also discontinued.
Considering that "
commercial airliners
were the weapons used by the terrorists" in the 9/11 attack, the U.S. government "
grounded
the commercial fleet for
three days
." This resulted in a "
31.6%
reduction in travel volume in
September 2001
compared to that same month in 2000 and generated massive industry losses."
In the year 2000, the total amount spent on domestic and foreign travel in the US was
$580.8 billion
. This figure reduced drastically from 2001 to 2003. The expected rise came in 2004 with
$600.1 billion
spent on domestic and foreign travel.
As of 2000, the revenue of the US tourism industry was
$516 billion
. However, after the 9/11 attack, the revenue went down for three consecutive years until
2004
when the industry began to recover and the revenue amounted to
$546.4 billion
.
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