Those in much of the Northeast are still pondering how Winter Storm Juno caused so much paranoia, but never actualized into an “epic storm.” Despite the lighter than expected snowfall, the 48 hours the storm in the Northeast led to 7,500 canceled or delayed flights, totaling a whopping $230 million.
Hype directly affects the lives of people and industries that rely on the media for news. With many individuals stuck in airports and trying to get back to their homes, many airports in the Northeast shut down out of fear of the winter storm. This had huge financial consequences.
According to U.S Traveler researchers, each flight cancellation costs the U.S. economy $31,000, and each delay put a $3,300 dent to the economy. This figure is only the direct cost of cancelling or delaying flights and does not calculate the business slowdown from the loss of men and women able to return to work.
U.S. Travel President and CEO Roger Dow put it best, “Storms that affect travel are a fact of life, but being able to calculate the exact economic impact is valuable for how we prepare for them as a nation.”