|
2021 |
2020 |
% 2021 vs . 2020 |
|
2021 |
2020 |
% 2021 vs . 2020 |
Jan . 12 |
520,117 |
1,691,205 |
30.75 % |
June 13 |
2,097,433 |
544,046 |
385.50 % |
Jan . 11 |
708,177 |
1,992,453 |
35.54 % |
June 12 |
1,812,797 |
4371,19 |
414.70 % |
Jan . 10 |
886,536 |
2,183,734 |
40.60 % |
June 11 |
2,028,961 |
519,304 |
390.70 % |
Jan . 9 |
709,444 |
1,687,974 |
42.00 % |
June 10 |
1,975,189 |
502,209 |
393.30 % |
Jan . 8 |
772,471 |
2,072,543 |
37.27 % |
June 9 |
1,669,537 |
386,969 |
431.40 % |
Jan . 7 |
771,734 |
2,034,472 |
37.93 % |
June 8 |
1,569,561 |
338,382 |
463.80 % |
Jan . 6 |
665,855 |
1,815,040 |
36.69 % |
June 7 |
1,828,396 |
430,414 |
424.80 % |
Jan . 5 |
766,594 |
1,806,480 |
42.43 % |
June 6 |
1,984,658 |
441,255 |
449.80 % |
Jan . 4 |
1,080,346 |
2,210,542 |
48.87 % |
June 5 |
1,681,192 |
353,016 |
476.20 % |
Source : U . S . Transportation Security Administration |
Photo by Orbon Alija billion in gross revenue , a drop of $ 500 billion from a $ 1.2 trillion annual level . The TSA ’ s passenger count data perfectly illustrates this impact . Travel through U . S . airports plummeted from 2.2 million passengers per day before COVID-19 to just 85,000 a day in April 2020 .
Compare the accompanying charts from January 2021 ( 520,117 ) and June 2021 ( 2,097,433 ) to see how the travel industry has recovered . The U . S . travel industry , except for the cruise ship sector , is essentially back to a daily passenger count that approximates pre-pandemic levels . Although a disproportionate amount of this travel is currently for leisure to satisfy pent-up demand for vacations , weddings , graduations , family reunions , and the like , the business travel segment is also starting to return . The major airlines are reporting in their latest earnings reports that business travel is now approaching 20 percent of total bookings . The only wrinkles in the experience are a lack of TSA workers at airports and rapidly rising airline ticket costs ( up 50 percent or more in recent months ).
Getting Back to Work . Unlike vaccinations and airline travel , the metric on returning to the office is not so good . Kastle Systems tracks card swipes to access office buildings as well as other property types . The data shows that we are not rushing back to the office — and that a more structural change to work is underway , suggesting lasting impact on the office property type . Kastle ’ s Back to Work Barometer indicates that vaccinations have not encouraged people to return to the office like they are to airline travel . By June , less than 30 percent of us had returned to the office on a regular basis .
In addition to the anemic response to returning to the office indicated by Kastle , corporate announcements and studies suggest that many of us are not going to use or occupy office space like we did pre-pandemic . For example , on June 9 , Bloomberg reported
Facebook will expand remote work . The tech giant said it will let all employees work remotely even after the pandemic if their jobs can be done out of office — but they may reduce pay if a worker moves to a less expensive area .
Additionally , a handful of recent studies examined expectations from both employee and employer perspectives :
• A Spring 2021 Citrix poll found that over a third of workers expect that their employers will embrace and encourage more remote work . Approximately 28 percent plan on looking for a new job that allows remote work .
• An April survey from Mercer found 76 percent of companies will continue to allow flexible work in the short term , and 43 percent of companies will continue with remote work .
• Mercer also found 54 percent of employers plan on expanding or increasing flexible work options when the pandemic is over .
CIREMAGAZINE . COM COMMERCIAL INVESTMENT REAL ESTATE MAGAZINE 33