People may have extra cash to burn on big trips, fancy cocktails and Broadway shows

Friday, February 12th, 2021

Executives in industries devastated by COVID-19 clearly want investors to believe that they’re on the verge of a roaring comeback:

And some evidence suggests they may be right. According to data from the U.S. Bureau of Economic Analysis, the national savings rate has jumped during the pandemic, so people may have extra cash to burn on big trips, fancy cocktails and Broadway shows. And, man, do people miss going out.

According to a recent survey by the Harris Poll, 71% of Americans say they miss socializing in restaurants and bars, 61% say they miss shopping in stores and 52% say they miss movie theaters. Growing percentages of people say they’re planning on splurging on vacations, clothes, cars and sporting events when things return to normal. Fifty-nine percent say they would take a COVID-19 vaccine in order to fly again. After news broke that COVID-19 vaccines work, stocks for airlines, cruise lines and other industries that rely on being face-to-face surged.

Places that have gotten the virus under control have already seen some impressive rebounds in travel and leisure. For example, in China, domestic airline travel came roaring back after the country ended its shutdowns. When Shanghai Disneyland reopened, tickets sold out in minutes.

Comments

  1. Rex says:

    But if you alter the Russel conjugation to stop causing people to fear the virus, they won’t accept their vaccine passport. That is unacceptable.

    https://i.ibb.co/hL8gssj/IMG-3071.jpg

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