Pennsylvania’s high vaccination rate could mean boom for businesses

Pennsylvania

HARRISBURG, Pa. (WHTM) — Pennsylvania ranked among the top 10 in the nation for vaccination rate according to a recent study from WalletHub, which could mean a boost in revenue for hospitality and entertainment businesses.

According to recent data from the CDC, Pennsylvania ranked ninth in the nation Wednesday, for the number of first doses administered to its entire population.

Now, those numbers are prompting a positive outlook from industry analysts.

“Safer conditions for vacationers this summer should have a very positive impact on the economy,” said WalletHub analyst, Jill Gonzalez. “Consumer confidence is up due to the vaccine, and over two-thirds of Americans plan to travel this summer.”

She added tourist attractions, entertainment venues, retail stores, restaurants and accommodation providers are expected to see a large boost in revenue following the pandemic.

The fourth of July weekend already demonstrated people’s willingness to travel. On Monday, analysts from GasBuddy said the demand for gasoline over the holiday weekend did not disappoint as millions of Americans flooded the roads for the long weekend.

“It just proves that the road is back and stronger than ever and we expect that trend to continue through the end of the summer, said Patrick De Haan, GasBuddy. “Despite higher gas prices people just want to travel and they’re doing it.”

Air travel also rose to levels higher than pre-pandemic levels.

“Travel providers, like airlines, bus companies and cruise lines, should also have significant gains compared to last year,”added Gonzalez. “More money being spent on vacations leads to businesses hiring more employees, who will then put their earnings back into the economy.”

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