US international inbound travel expected to contract over next six months

US international inbound travel expected to contract over next six months Travel to and within the United States grew 2.4% year over year in December, marking the industry’s 10th consecutive year of expansion, according to the U.S. Travel Association’s latest Travel Trends Index (TTI). The Leading Travel Index (LTI), the predictive component of the TTI, projects overall U.S. travel volume will grow 1.4% year over year […] - eTurboNews | Trends | Travel News

US international inbound travel expected to contract over next six months

US international inbound travel expected to contract over next six months

US international inbound travel expected to contract over next six months

Travel to and within the United States grew 2.4% year over year in December, marking the industry’s 10th consecutive year of expansion, according to the U.S. Travel Association’s latest Travel Trends Index (TTI).

The
Leading Travel Index (LTI), the predictive component of the TTI, projects
overall U.S. travel volume will grow 1.4% year over year through June 2020.

However,
international inbound travel is expected to contract (-0.2%) over that same
time period as a result of the continued strength of the U.S. dollar versus
other key currencies and trade tensions. International inbound travel did
expand slightly in December (0.8%)—only the second increase for the segment in
the past seven months.

“Congress took an important step in December to reverse the slide in international inbound travel by reauthorizing the Brand USA destination marketing program,” said U.S. Travel Association President and CEO Roger Dow. “International visitor spending is vital to lowering the trade deficit, and a prolonged slide in that segment’s growth could have serious implications for the overall health of the American economy.”


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Domestic
travel was once again the bright spot of the TTI as December concluded the
third consecutive year of simultaneous expansions in both the domestic leisure
and domestic business travel segments. Domestic travel demand rose 2.6% in
December, fueled by increases in domestic leisure travel growth (2.8%) and
business travel growth (2.0%). Business travel surged beyond its six-month
average, largely due to Hanukkah falling on the same week as Christmas this
year, while leisure travel growth slowed to half of its six-month trend. The
LTI projects that overall domestic travel growth will expand 1.4%
year-over-year through June 2020.

Next
month’s TTI—which will reflect travel data for January—should also begin to
capture the probable effects of Chinese coronavirus on travel to and within the
U.S.

eTurboNews | Trends | Travel News

Author: editor

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