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1. US Enacts COVID-19 Policy for Incoming Chinese Tourists
Effective Jan. 5, all air travelers coming to the U.S. from China, including Hong Kong and Macau, will be required to show negative COVID-19 tests regardless of their nationality or vaccination status, the New York Times reports.
Officials at the Centers for Disease Control and Prevention said they have concerns over China's "lack of transparency about its outbreak — and, in particular, its failure to track and sequence variants and subvariants that are circulating within its borders," the news outlet reports.
Regarding the policy change, U.S. Travel Association President and CEO Geoff Freeman issued a statement Wednesday noting, "We look forward to welcoming Chinese travelers back to the United States. The Biden administration’s highly targeted COVID testing approach is reasonable and appreciated.”
2. 8.4 Million US Workers Will Get Raises
Come 2023, 8.4 million workers in the U.S. are expected to see increases in their paychecks due to inflation adjustments, legislation and ballot measures. Women and people of color will be disproportionately affected, however, Business Insider reports, citing an analysis from Economic Policy Institute.
A total of 23 states are set to raise minimum wages in the new year. Massachusetts' minimum wage will rise to $15 and Washington's to $15.74.
Some businesses in 2022 increased wages independently, bringing average hourly earnings to $32.82 for non-farm payroll employees in November. Traditionally lower-paying industries, including leisure and hospitality, still earned only an average of $20.51, the news outlet reports.
3. Risks Pay Off for Hotel Revenue Strategists
Hotel revenue strategists have learned to better adapt through the uneven recovery across the industry in 2022, which at times required being willing to take risks, reports Hotel News Now's Dana Miller.
Cory Chambers, senior vice president and chief revenue officer at Hospitality Ventures Management Group, said the traits he looks for in revenue strategists are creativity, willingness to try new things, openness to outside ideas and leading with data.
"[They need to be able] to own a decision that didn't work and eliminate that, but now we know because we tried it and no one can say we didn't," he said. "We would far rather see a risk be taken and a negative outcome occur than no risk be taken and nothing changes."
4. Asian Countries Brace for Travel Boom
Operators in tourist hot spots across Asia are preparing for a potential spike in travel from Chinese tourists as the country drops nearly all COVID-19 measures, Reuters reports.
However, some operators are still cautious of just how significant that spike could be.
“There is little doubt mainland Chinese are the spark plug for Thailand’s tourism recovery,” said Bill Barnett, managing director of hospitality consultancy C9 Hotelworks. “It’s not a question of if it will happen, it’s now just a matter of how many and how fast.”
5. Inflation Takes Toll on Middle-Income Households
Studies, including by the Congressional Budget Office, show purchasing power from paychecks for middle-income households fell 2.9% in 2022 compared to the previous year, Reuters reports.
Purchasing power from paychecks by the bottom fifth households, however, rose 1.5% and 1.1% for the top earners. Surveys from the Census Bureau further show that middle-income households are "having more trouble making ends meet," the news outlet reports.