Places that have gotten the virus under control have already seen some impressive rebounds in travel and leisure. After news broke that COVID-19 vaccines work, stocks for airlines, cruise lines and other industries that rely on being face-to-face surged. Fifty-nine percent say they would take a COVID-19 vaccine in order to fly again. Growing percentages of people say they're planning on splurging on vacations, clothes, cars and sporting events when things return to normal.
PENT UP DEMAND COVID MOVIE
And, man, do people miss going out.Īccording 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. 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 some evidence suggests they may be right. According to a recent analysis by AlphaSense, a company that uses artificial intelligence technology to sift through Securities and Exchange Commission filings, event transcripts and other business documents, use of the term "pent-up demand" is at an all-time high.Įxecutives in industries devastated by COVID-19 clearly want investors to believe that they're on the verge of a roaring comeback. Executives at Marriott claim people will come rushing back to the company's hotel rooms. The CEO of JetBlue says pent-up demand for travel will help his company soar back to profitability. Now with light beginning to show at the end of the COVID-19 tunnel, the words "pent-up demand" are echoing throughout the business world. It's a classic example of what economists call "pent-up demand." After being deprived of being able to do something, when the constraints are lifted - whether because of the end of a recession, a war or a pandemic - people ravenously consume what was previously out of reach. Overall, the war and the pandemic slashed MLB game attendance by over half from what it was in the previous season.īy 1919, the war and the pandemic were over, and a tidal wave of baseball fans swelled into stadiums. For Game 6, when the Red Sox clinched the title, only 15,238 showed up. With flu cases mounting, the next day a Boston public health official warned Bostonians they should be wary of the virus. The stadium could hold 35,000 people, but for Game 5 of the Series, only 24,694 fans were in the stands.
PENT UP DEMAND COVID SERIES
"Boston becomes the epicenter of a second wave, which was a more virulent strain of the virus."ĭespite the Red Sox being on their way to winning the series - the last they would win before an infamous dry spell that lasted until 2004 - the flu reduced attendance at a Fenway Park that already had plenty of empty seats because of World War I. Just days before Ruth led the Red Sox to the World Series, soldiers returning from Europe brought a new strain of the Spanish flu to Boston, says Georgia Tech historian Johnny Smith, co-author of War Fever: Boston, Baseball, and America in the Shadow of the Great War. The strategy paid off, and Ruth began his run as a home-run-hitting superstar, helping lead the Red Sox to the World Series.īut a world war and a deadly pandemic slashed demand to see ballgames in 1918.
Shortly after, Ruth lobbied the team's manager to let him play other positions so he could spend more time at the plate. A young left-handed pitcher named Babe Ruth began the year by pitching an opening-day victory for the Boston Red Sox. That year, World War I and the Spanish flu pandemic slashed MLB game attendance by over half from what it was in the previous season.ġ918 should have been a great year for baseball.
Babe Ruth, a pitcher for the Boston Red Sox, in 1918.
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