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[Travel News]: US travel industry ad budgets crater in historically challenging year

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The following is the [Travel News]: US travel industry ad budgets crater in historically challenging year from [eMarketer] recommended by TheTourAttraction.com:

If consumers are unable or unwilling to travel at pre-pandemic levels, then advertisers will not significantly resume spending to promote their travel services.

No industry has been as devastated by the coronavirus pandemic and its effects as travel. Airlines, car rental agencies, hotels and resorts, online booking services, cruises and destination marketing organizations, and business travel support services found their operations ground to a near-halt for much of Q2 2020, and the situation has barely improved in H2. Not surprisingly, most have dramatically pulled back their advertising budgets.

eMarketer forecast that US travel digital ad spending will drop by 41.0% year over year (YoY) to just USD 3.24 billion.

eMarketer previously estimated 19.3% growth for travel digital ad spending, a relatively healthy figure in line with trends across nearly all verticals. No industry had digital ad spending grow at below double-digit rates at any point over the past three years.

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