Travel industry hoping for economic turnaround amid vaccine hopes

Coronavirus

DENVER (KDVR) — Widespread optimism about a possible COVID-19 vaccine is boosting hope in the travel industry about a recovery in 2021.

The coronavirus pandemic has kept many travelers home, off of planes and away from cruise ships.

Travel industry expert Susan Hammond, owner of Endless Travel, tells the FOX31 Problem Solvers she’s made a great sacrifice to keep her business open. “We’re basically not going to get a paycheck for about a year,” she said.

A surge in travel industry stocks this week may start to reverse the downward spiral experienced by millions of workers. “We are finally starting to see the light at the end of the tunnel,” Hammond said.

Close to 8% of the nation’s tourism jobs are located in Colorado, according to the Office of Economic Development and International Trade.

Colorado’s travel industry made history in 2016 when more than 82 million visitors spent more than $19 billion, generating more than $1 billion in state and local taxes.

Financial analysts will be closely watching what happens during the first quarter of 2021.

Experts tell the Problem Solvers, anyone booking travel in 2021 should expect strict health requirements, like COVID-19 testing, get a good cancellation policy and travel insurance.

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