Strengthening America and Restoring Pride

We have seen America as the worst hit nation in the pandemic. However, the rebound from the pandemic is the best in the world. We can all agree there is enhanced activity in all dimensions and all sectors from the American people in the last three to four years which resulted in a great economy. When economy does well in all areas, it results in stronger foundations and a strong nation. It reflects efforts by the government, businesses, and citizens to rebuild the country's foundations, enhance its global position, and restore faith in the American identity. This movement underway denotes economic reforms to military strength, cultural revitalization, and social progress which encapsulates a broader activity to bolster the nation’s core and reignite pride in being American. We never acted in a way that is embarrassing but bolstered pride through the way we work and enhanced pride in our representation of the nation. Everyone took pride by the way we fared after the worst pandemic and by the way we acted to strengthen the nation. This is the pride we restored for this nation and reclaimed its position as a true leader. The pandemic has really shamed the nation but our recovery has truly restored the lost pride and we can keep our head high in these moments of demonstrating our national worth and identity. 

If we can talk about strengthening the nation, we can look at our invigorating spirit which has shaken up the economy in the best way possible after a major slump. We as Americans have arrived at this moment through the collective work of past many years or a decade. This is the moment which needs to be cherished and pass on to next generations as a fruit of our labor. The bolstered nation is there for everyone which can serve their causes and realize their dreams. I had arrived in the year 2022 and recovery has started in that year as well. U.S. has slowly started to open up and running full steam by now. These 3 years have been truly remarkable in strengthening the nation from its foundations and keeping it on an upward trajectory for a great future. Unemployment has been down by providing millions of jobs, inflation has cooled substantially and economy has improved significantly. We cannot ask for a better multi-faceted outcome from the biggest economy of the world after looking at the past few years. This will herald a ripple effect and the world at large will immensely benefit from the ongoing developments in U.S. When the U.S. sneezes, the world will catch cold. When the U.S. is in a good positive territory, the world will definitely find itself in a good standing. The dynamics of the world will swing into optimistic space after a disastrous pandemic. This is how an enhanced status quo has been heralded across the world by the current U.S. standing. 

As I mentioned the U.S. has seen significant elevated activity and good overall growth from 2021-24. To support with a fact, the U.S. GDP grew by nearly 30% since 2020 or the past four years. When compared to 2012, it increased by 68% from 16 trillion to 27 trillion. The U.S. gives a quarter of worlds GDP which indicates the lion’s share contribution from this country. This is the kind of decade of upward rise the country has overseen which grew the prospects of everyone within and outside the nation. When there is a 68% growth in a decade or the biggest ever increase in a span of decade, we are staring at a great standing and good faring as an individual and nation. There is tremendous overall progress and this upward mobility should continue for years to come. 

While this is a macroeconomic trend, it is fueled by micro trends underway in this nation. We are all those great invigorators and catalysts, fueling the engines of the nation covering a lot of ground. We can look at few of those micro threads which pull the giant national vehicle for a great ride. Areas like retail sector or shopping; travel, tourism or hotel industry; transport or ride-share sectors can be looked at as some examples to understand this great pull. I had been directly involved in these spaces for the past few years on innumerable occasions with a lot of regularity. The enhanced activity in shopping, hoteling, ride-booking came from me and I am a miniscule representation of the overall picture. These are a few examples of the sectors which we can study to measure our own contribution, even in a minute way. We can all take pride in the great overall standing for burning our energy and playing our part in a little way possible. 

To look at the retail sector or shopping space, not a day passes without me buying something or other from one store or other. In 2022, retail sales rose by about 7%, surpassing $4.9 T, boosted by pent-up demand post-pandemic. Growth continued into 2023, with total retail sales reaching $5.1 trillion, reflecting around a 5.4% increase despite inflationary pressures. For 2024, retail sales are projected to grow by 4-5%, crossing 5.25 T. This tells a growth of around 7% in these three years. This upward trend reflects not just inflation but also increased consumer spending fueled by strong labor markets and higher wages. While ecommerce continues to thrive, accounting for around 15% of total retail sales, physical stores remain central, with 80% of purchases still occurring in-store. Several retail giants performed exceptionally well by adapting to these market trends. Walmart reported a 41% year-over-year increase in advertising revenue via its retail media network in late 2023. In fiscal 2023, Walmart reported revenue of $611.3 billion, reflecting a 6.7% increase from 2022. Most of the retailers benefited from strong consumer demand and strategic growth initiatives, even amid inflationary pressures and economic uncertainty. 

To look at the hotel industry which I rely on most occasions, the U.S. hotel industry experienced substantial recovery and growth across 2022, 2023, and into 2024. The hospitality sector rebounded in 2022, fueled by pent-up travel demand. Occupancy rates, revenue per available room (RevPAR), and average daily rates (ADR) increased sharply across many regions. For instance, in Chicago, there is a tremendous boom in this sector. From 2022 through 2024, Chicago's hotel industry has shown remarkable growth, becoming one of the fastest-recovering urban markets in the U.S. A mix of leisure travel, major conventions, and business events has driven demand, resulting in significant increases in occupancy. In 2023, Chicago’s occupancy rate surged by 23.9%, reaching 72.2%—a notable rebound compared to the pandemic lows or pre-pandemic levels. While this is a minute representation, the broader picture tells more or less a similar story across the nation. This tells people are inclined to travel more, spend more and get involved in enhanced activity. We cannot overlook the inner desire of the common citizens in propelling wider growth. 

The last sector or example - ride-sharing business has also seen positive outburst in the past few years. I myself contributed thousands of dollars in economy to these ride-sharing apps. For example, Uber achieved profitability for the first time in Q2 2023, marking a significant milestone after years of losses. The company reported an operating profit of $326 million during this quarter, driven by strong growth in its ride-sharing and delivery businesses. This was a key turning point, as Uber had previously prioritized expansion over profitability since its inception. The company's strategy of diversifying beyond ridesharing, such as expanding into food, grocery, and package delivery, contributed to the positive results. In Q4 2023, Uber reported its first annual operating profit, showing that its profitability wasn’t a one-time occurrence but the start of sustainable growth. A surge in travel demand and urban mobility has increased per-customer spending across both platforms. Whatever might be the reason, an enhanced transportation activity can be seen in the last few years which gave great economy to these service providers. For everyone who travels for any small reason, this has become a great area to contribute towards the bigger picture. 

As we can see with these examples, we are all really putting our best foot forward in strengthening the nation bottom-up, causing a multifold growth across sectors. As Americans rebuild their economy, reinvigorate civic engagement, and embrace their diverse cultural identity, they embody the values that have always defined the nation with their heads held high. These hurricanes and storms are a little reminder and a representation to take care of the root or the nature for our good standing while not overtly leveraging or taking advantage of it. We cannot milk the cow forever without taking good care of it. This will strengthen the root along with strengthening the nation while minimizing the unnecessary damage. Otherwise, we are staring at the times of a strong nation in the making, taking huge pride in its standing.