U.S. Lifts Travel Ban, Opening Doors to Visitors
On November 8, the United States lifted the 20-month travel ban, and the port of entry was fully opened!
However, international travelers need to comply with some rules when entering the country, such as presenting a vaccination record certified by the World Health Organization and a negative certificate for the pandemic within three days.
Since the outbreak of the pandemic in March 2020 and the announcement of the ban, hotels, retail, restaurants and airlines have been hit hard and their revenue has fallen sharply.
The number of U.S. flight bookings has skyrocketed, and even before the peak holiday season, the number of passengers is expected to rise rapidly. United Airlines stated that it expects that the number of international arrivals on Monday will increase by 50% from the previous week (20,000 passengers).
Delta Air Lines said it expects many international flights to be fully loaded in the coming weeks and demand remains strong. Hopper, a flight tracking website, said that since Biden announced the lifting of the ban, searches for international flights to the United States have more than quadrupled.
Real estate agents are also gearing up to prepare for the influx of overseas buyers.
According to data from the American Association of Realtors, before the epidemic, foreign buyers spent US$267 billion and US$183 billion on US real estate in 2018 and 2019. It is expected that a large number of real estate buyers from overseas will flood into the US luxury housing market on Monday, once again boosting high-end real estate sales.
Real estate agents said that it is expected that buyers in New York this month will mainly come from Europe, especially the United Kingdom and Germany. In Florida, Brazilian buyers buy more homes. In Los Angeles, the rich in the Middle East will be the biggest buyers of luxury homes in Beverly Hills and Bel Air.
Before the pandemic, Florida was the largest overseas buyer market, accounting for about 20%. California ranks second with 16%. Followed by Texas, Arizona, and New Jersey. Miller said that coastal cities are the most attractive places for the rich.
For the long-awaited retail industry, it is even more cheering.
The U.S. retail industry is expected to be boosted from this wave of consumption, as tourists fill up shopping malls again and increase sales. The backlog of tourist souvenirs, luxury handbags and high-end cosmetics worth billions of dollars also has a place.
According to data from the International Trade Administration, in 2019, global tourists’ shopping spending exceeded 43.4 billion U.S. dollars, accounting for 27% of total tourism consumption. American Retail Federation CEO Matt Shay said that with the lifting of the ban, the number of international tourists will increase, which will further boost the retail industry. Among them, international tourists will become a key factor in the economic recovery of New York City. In previous years, tourists spent US$4.75 billion in shopping in New York.
However, Shay pointed out that it will take some time before the number of tourists in New York returns to before the epidemic. It is estimated that about 2.8 million international tourists will travel to New York this year, while the number of international tourists in 2019 will be 13.5 million, and it will return to the pre-epidemic level by 2024.
Originally published at https://www.tlw.com.