Trave Trade Essay Example | Topics and Well Written Essays - 1500 words

Trave Trade - Essay Example According to the available statistical data impact over tourism industry across the U.S. stated since the year 2001 onwards though the rate of declining was not so conspicuous. Observation of Julio Aramberri and Richard Butler disclosed gravity of the situation, â€Å"For the transportation and tourism industries, which by September 2001 were already shaken by a deepening USA recession, the impact was immediate and serious. In February 2002, Hilton Hotels reported its net income †¦ had dropped 94% despite aggressive cost-cutting, with the lowest occupancy rates in San Francisco, Washington D.C., and Hawaii.† (Aramberri, Butler, 276) In this context, it is important to mention that fear of terrorist attack and devastation of the 9/11 massacre created such huge impact over the mass psyche across the globe, even among U.S. people that they stopped visiting to most of such places that were at the high risk of under terrorist attack threat. Apart from that, as there was also a sharp decline in the air transportation facilities across from the aviation companies of the United States. As the aviation management industries predicted that there will be sudden fall in the number of passengers, those stopped providing their service to passengers around the world. Consequently, tourists also felt de-motivated to travel. Pondering over all these issues, the â€Å"Milkin study predicted for the year 2002 a loss of 1.6 million urban jobs, of which 760,000 would occur in travel and tourism.† (Aramberri, Butler, 276) It is evident from such statistical references that U.S. pervasively suffered from the effects of recession over the travel and tourism industry and places like San Francisco, of which the tourism industry is one of the major sources of income both from the perspective of revenue and earning livelihood for the common citizens. As due to recession there has been a sharp decline in the rate