Strategic Wealth Designers: Taking a look at travel and tourism after Memorial Day Weekend

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Memorial Day Weekend typically kicks off summer travel. With increased vaccinations and loosening guidelines, more and more people have been traveling. Independent wealth management advisor Thomas Reilly of Strategic Wealth Designers joined us on the newscast to discuss travel and tourism.

“Air travel this past weekend was up over 60% from Memorial Day Weekend last year,” Reilly says. “Many places were still in lockdowns at this time last year. Now, vaccinations are available and mask mandates are being reduced or even eliminated. So not only is it possible for many to travel again, but they also feel much more comfortable.”

Tourism continues to rebound from last year’s closures. Key indicators of this are mask mandates being reduced inside theme parks and theme parks opening to more and more guests. The industry is very optimistic for a successful summer of travel and tourism as places continue to re-open and return to more normal operating conditions.

“Road trips are accounting for a large amount of the travel we are seeing,” Reilly says. “It’s estimated that 9 in 10 Memorial Day Weekend travelers was traveling by car. This will positively impact restaurants, small shops, and attractions that saw a tough last year. We can only expect this continue over the summer.”

While travel has not reached pre-pandemic levels, the levels seen last weekend are indicators that the travel and tourism industries are experiencing a rebound. To see additional stories surrounding business and economic news for Denver area, visit https://KDVR.com/Money and if you have a question for Thomas send an email to info@swdgroup.com.

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