The number to beat for confirming that we’ve returned to pre-pandemic levels of travel demand is 2.2 million passengers being processed by the TSA within a 24-hour period. That’s where we were on September 4th, 2019.
Last Friday, we processed around 1 million. Which is still less than 50% away from the target goal, but a new high in travel demand we haven’t seen since March 17th (900,000 passengers screened in one day).
Is this a sure sign of travel demand making a much-needed resurgence? It entirely depends on whether these latest numbers are a one-time occurrence or the very start of a much larger trend about to take place in the future.
But people are still traveling. There is a hidden yearning for exploring the world which has been suppressed in the American population for far too long.
We lost an entire summer vacation because of COVID-19. We no longer had the convenience of going to another city and being part of something much bigger than ourselves. Hell, we couldn’t even visit our family and friends!
We’ll keep you updated with the numbers as they continue to pour in over time. The next time I start off a newsletter with new information about travel demand, I certainly hope it’s better compared to the current level of passenger demand.
What about you, though? Can you feel the tourism industry making a comeback? Reply to this newsletter and tell us how you feel!
Restaurants, Airports, Hotels – How Are They Changing?
The entire hospitality industry as a whole is undergoing some serious changes. Some are temporary, others appear to be permanent, but they’re here to stay for the next few years.
So when you embark on your next trip towards your favorite country or city, or decide to go domestic and visit something within your current area of residence, here are a few things you should be looking out for:
- Airports are going to become far more touchless, with machines used to check your temperature and confirm your identity (e.g. Your face and other biological characteristics will take priority over transferring a passport from hand to hand).
- Restaurants will be quite varied in their changes. Some will have contact-less door handles, while others will change how tables are arranged to make them easier to clean in-between visitors.
- Hotels will be by and far the most radically changed department. On top of brand-new cleaning protocols, all of your favorite hands-on activities are out (books, tabletop games, etc.).
This is just barely scratching the surface. Every establishment will be unique in the number and severity of adaptations they make to traveling in the post-coronavirus world.
And I’m excited to see what comes our way!
The Downsides of the Digital Nomad Lifestyle
As much as we love to tout all of the positives and benefits behind being a fully remote worker who can earn a living from anywhere in the world with a laptop and an Internet connection, there are some downsides.
Considering how many people have been unable to successfully adapt to circumstances where they work from home, it’s important to newcomers to know exactly what they are getting into.
One, since you have the freedom to work anywhere, companies – by extension – have the freedom to hire from anywhere. If someone from the third-world can do the same job as you with the same quality and speed for less pay, you can be damn well sure you’ll be replaced.
Two, the current circumstances worldwide make it infinitely harder for you to travel from country to country. Considering that the US has one of the highest rates of COVID-19 infections and deaths in the world, you’re effectively taken off the “safe list” for several international destinations as your passport won’t be accepted.
And third, only certain positions are feasible for your average remote workers. We’re talking about the white-collar jobs you would expect to fit this type of work (i.e. anything in tech or finance). So if you’re working a construction job, look elsewhere!
If you are fully aware of all 3 legal points before the market, have fun!
Losses of 54% in Real Estates Sales within New York City
I can’t even imagine what it’s like to be a real estate agent in New York City right now. The numbers coming out of the Real Estate Board are just horrendous and would make even the most seasoned veteran seriously consider a total career change.
Here’s just a few numbers to get you spooked:
- Overall, consideration dropped 54% and transaction volume dropped 32% (all-time lows since 2015)
- Apartments (-50%), offices (-28%), and hotels (-37%) all suffered losses in price value
- Condo prices have decreased by an average of 93% year-over-year, with transactions declining by 68%
- Retail transactions were the only transactions where the average price was flat year-over-year, but they also had a 27% loss in consideration
- Total tax revenue generated from investment sales is down 49% from six months ago (58% from one year ago)
Some people speculate that taxes on investment sales may rapidly rise to compensate for the losses. But much like their previous idiotic idea to tax the ultra-wealthy even more, it will backfire and lower investment sales even further…
Yet Another Death Blow for the Eternally Struggling Boeing
Boeing has had a VERY tough year. I would know, because their failures and struggles have become the subject of several pieces I have written for this newsletter.
And even though it’s bad enough they had issues with the 737 Max, it looks like as if the 787 Dreamliner will become the second thorn in their back.
First, there were parts in the composite fuselage that would not join properly. Now, it turns out there is a problem with the horizontal stabilizer. While it can be fixed and won’t pose a threat to safety, it may require the Federal Aviation Administration to investigate the 900 units of the Dreamliner that have been delivered to customers for manufacturing problems.
(Not to mention all the future deliveries being negatively affected.)
This is yet another death blow for Boeing, as most of their money is made when a finished plane is finally delivered. The 787 Dreamliner was an aircraft that brought in a lot of cash due to its problem-free reputation.
Well, not anymore…
America’s Tourism Industry Suffers Due to Losses in International Interest
The death of International tourism caused by COVID-19 continues to negatively impact countries whose economic stability and output relies almost solely on incoming traffic from travelers around the world.
The United States of America may not have international tourism as a major driver of economic growth, but it sure as hell is an important one.
According to the World Travel & Tourism Council, the American economy suffered $3 billion in losses PER WEEK in 2020 due entirely to losses in international tourism. That amounts to $425 million per day, or $155 billion in losses for 2020, thus far.
Keep in mind that nearly 17 million jobs – 10% of the entire American workforce – comes from the tourism sector. It also generates 9% of the economic activity in the nation, which is equivalent to $1.8 trillion.
I just hope that COVID-19 comes to an end. As much as our travelers need an escape, many people around the world also want to escape to America.
Are YOU sick and tired of all this COVID-19 BS? Reply to the newsletter and let us know!