12/18/2020

Update 12/18/2020: Ohio's Travel Industry and the Coronavirus (COVID-19)

Economic Relief Updates

FEDERAL RELIEF BILL REMAINS STALLED

Federal lawmakers are still negotiating additional aid and will likely not come to a deal till over the weekend.

Economic Impact

$12.7 BILLION IN LOSSES TO OHIO’S TRAVEL AND HOSPITALITY INDUSTRY THUS FAR

Ohio has lost $12.7 billion in traveler spending as of the week ending Dec. 17, according to weekly data tracking by Tourism Economics. During the week ending Dec. 17, Ohio businesses lost $262 million from the same time last year, a 46% loss. Average losses per month have continued to worsen since September, with the biggest drop in average monthly spending occurring since November.

This reduced spending is having a direct impact on federal, state and tax revenues. As of the week ending Dec 17, federal tax revenues generated through Ohio traveler spending are down $801 million, with state tax revenues down $375 million and local tax revenues down $221 million.  

Travel Research Updates

FEAR OF BEING STRANDED, CANCELLATIONS AND GOVERNMENT TRAVEL RESTRICTIONS ARE HINDERING TRAVEL; NEW RESTRICTIONS MAKE PEOPLE LESS LIKELY TO TRAVEL IN THEIR HOME STATE

Key findings from Destination Analysts fielded Nov. 30:

• How has the pandemic impacted travel? Concerns with safety for self and others top the list, but travelers are also concerned about not being to get home if they go somewhere and restrictions are imposed (34%), limited travel experiences (33%), cancellations (32%) and government travel restrictions (30%).
• Among those who live in states that have recently imposed new restrictions, more than 30% report that new restrictions make them less likely to travel even within their own home states in the next two months.

PLANNERS ANTICIPATE MEETING GROWTH BY MID-YEAR WITH MANY ALREADY IN THE PLANNING STAGE

Key findings from the Global Business Travel Association survey fielded Dec. 7-13:

• Three out of four respondents expect employees to attend in-person meetings/events in Q2 or Q3 2021, with 89% of respondents set to attend an in-person meeting or event with attendees outside their company by Q3 2021.
• 87% of respondents expect to attend internal company meetings or events in person by Q3 2021. As attendance at in-person events increase through the year, attendance at hybrid meetings is expected to decline as 2021 unfolds.
• 36% of North America respondents said they are beginning to plan 2021 meetings. Of those who report their company is planning to host/attend 2021 meetings and/or events, more than half are planning to host/attend small to mid-sized meetings or events with up to 500 attendees.

INTENT TO TRAVEL FOR LEISURE OR BUSINESS BEGINS TO CLIMB

Key findings from MMGY fielded Nov. 15-20:

• After a high of 46% reported in September, the percentage of those likely to take a domestic leisure trip dipped to 40% in October and is up to 41% in November.
• Intent to take a domestic business trip continues to increase from 33% in September to 38% in November.
• One in five (21%) business travelers is likely to attend a conference or convention, up from 17% last month.
• One in four (24%) is likely to attend an off-site business meeting, up from 22% last month.
• Travel by car remains the most likely form of transportation for leisure travel - 35% say they’ll drive 101 to 300 miles one way, 31% report they’ll take a trip up to 100 miles, 20% say they’ll drive 501 miles or more and 12% say between 301 and 500 miles.