*Updated December 21st, 2020
As one of the largest and most diverse countries in the world, the United States boasts an amazing amount of tourist destinations. Tourism is considered a vital part of many people’s lives and, according to US tourism statistics, it contributes to building the economy and creating jobs. In 2019, domestic and international travelers spent $1.1 trillion in the U.S. and directly supported 9 million U.S. jobs.
The Covid-19 pandemic has brought travel and tourism to a near-standstill also dragging down with it the short-term rental market, and no one is sure when it will restart.
How hard has the coronavirus hit the travel industry? Will the short-term rental market be able to recover?
We have collected the appropriate data, to draw usable conclusions and perhaps get the dose of optimism that many of us need.
Please find below the statistics we have collected from Hosthub customers, spanning 78 countries around the world and several properties.
New bookings per week (2019 vs 2020)
Looking at the above chart we observe the following:
- Since February 2020, there has been a marked decline in new bookings, which bottoms out in April, as this was the month with the most confirmed cases of Covid-19 around the world, with the government taking drastic measures to tackle the pandemic
- Since the beginning of May, there has been a steady increase in bookings, and the last weeks’ bookings this year are at a higher level than in 2019.
- The gap blows up since the beginning of October signaling the second wave of the pandemic.
Accumulated bookings per week (2019 vs 2020)
The accumulated bookings in the USA in 2020 were at a higher level than in 2019 until the end of October.
In the last 2 months, there has been a decline in the accumulated bookings.
To conclude, it seems that the pandemic has not affected bookings in the USA as we would expect, probably because while the travel restrictions abroad are still in place, people tend to travel across the country.
Stats will be updated on a weekly basis.