What
U.S. Travel Association’s latest Travel Trends Index recently reported positive news of the travel industry’s 104th consecutive month of overall growth. However, economists are concerned by the decelerated rate of inbound
international travel.
Why It Matters
Overall, in August, travel to and within the U.S. grew 3.8 percent when compared with the same period last year; this is mostly due to the strength of domestic leisure and business travel, with business travel leading the way. Strong consumer spending and consumer confidence are contributing factors. While international inbound travel improved at a pace of 1.2 percent year-over-year, the rate of growth has a slower pace than that of the domestic market and continues to underperform compared to global competitors.
Fast Facts
- Domestic travel is expected to growth at a space of 2.6 percent through 2019, including business travel that is expected to grow by 3.4 percent.
- International travel is projected to grow at a decelerated rate of 0.6 percent over the same period.
What They Are Saying
"Rising trade tensions and the expected cooling of global economic momentum is a cause for concern," said David Huether, senior vice president for research at the U.S. Travel Association. "In terms of travel market share, the U.S. is falling behind the rest of the world, and we urge officials to support policies and messaging that convey our country's desire to welcome all legitimate business and leisure travelers."
The Details
U.S. Travel Association
www.ustravel.org
