(TAN): The United States’ tourism industry has asked the federal government for an emergency aid of USD 150 billion as it fights to sustain itself amid the coronavirus outbreak, reports said.
According to reports, the industry sought the creation of a travel workforce stabilisation fund for the maintenance and rehiring of employees, so that they earn more than they would get in unemployment benefits. They also asked for emergency grants to take care of liquidity of hotel companies, and improvement of the Small Business Association loan programmes to help small businesses and their employees, as per reports.
Representatives from the industry reportedly met the United States’ President at the White House to discuss the economic effects of the pandemic and urge the administration to take certain measures to assist the industry.
The virus outbreak has already had a stronger impact on the American hotel industry than the September 11 terrorist attacks and the Great Recession put together, reports said.
“The impact to our industry is already more severe than anything we’ve seen before, including September 11 and the great recession of 2008 combined,” American Hotel & Lodging Association Chief Executive Officer Chip Rogers was quoted by CNBC as saying.
United States Travel Association Chief Executive Officer, Roger Dow said travel could go down cutting USD 355 billion in total travel spending, including transportation, lodging, retail, attractions and restaurants, as per reports. He reportedly added its economic impact could be six times stronger than that of 9/11.
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Like the tourism industry, the airline industry too is bearing the brunt of the pandemic. The industry is reportedly seeking USD 50 billion in relief.
Treasury Secretary Steve Mnuchin reportedly said the industry was in a worse shape than it was after the 9/11 attacks, adding that it has “almost ground to a halt”.
“This is worse than 9/11 for the airline industry,” he was quoted by USA Today as saying.
