The $1.3 Trillion US Travel Industry Will Recover Sooner Than Expected

America’s travel industry has gone through a sluggish recovery since the Covid-19 pandemic—reaching just 84% of its pre-pandemic international arrivals by the close of 2023. That’s in stark contrast to global competitors such as France and Spain, which blew past 2019 visitation levels that same year. One the major culprits: significant visa processing delays at US embassies around the world.

Now there’s hope for a major turnaround for the US travel and tourism sector. At a press conference on Oct. 29, Secretary of State Antony Blinken and Secretary of Commerce Gina Raimondo said they expect a faster rebound in inbound visitation to the US, citing a long-awaited reduction in wait times for visa appointments and processing, which will help the US take advantage of major sporting events taking place there in the next 10 years.