Travel Trends Index: Strong Leisure Market Keeps Outlook Positive
March 1, 2016 11:11am
Offsets Softer Business and Inbound International Segments
WASHINGTON (March 1, 2016)—Overall growth in the travel sector of the U.S. economy has leveled off but remains in positive territory, mainly thanks to a leisure travel market buoyed by strong wages and low gas prices, according to the U.S. Travel Association's monthly Travel Trends Index (TTI).
Meanwhile, the strong dollar continues its cooling effect on the inbound international travel market, and business travel will struggle to post gains in 2016 due to shaky financial markets.
The TTI consists of the Current Travel Index (CTI), which measures the number of person trips involving hotel stays and/or flights each month, and the Leading Travel Index (LTI), which measures the likely average pace and direction of business and leisure travel, both domestic and international inbound. It assigns a numeric score to every travel segment it examines—domestic and international, leisure and business—in current, 3-month predictive and 6-month predictive indicators. As with many indices similarly measuring industry performance, a score above 50 indicates growth, and a score below 50 indicates contraction.
The January CTI registered 51.2, down slightly from 51.4 in December, showing that travel demand grew in January but at a slightly slower rate than the previous month. Still, the CTI has been above 50—indicating growth—for 73 straight months.
The 3-month and 6-month predictive Leading Travel Indices (which predict future industry performance) both forecast a growth rate of just under three percent despite the aforementioned trouble spots for travel to and within the U.S.
"The softened growth in January needs to be read in context," said U.S. Travel Association Senior Vice President for Research David Huether. "Domestic leisure travel continues to perform well enough that the industry should have no trouble coping with the market and currency turbulence that has affected business and international travel. We're seeing signs all over the place that it's a win-lose economy right now—falling oil prices are great for consumers, for example, but obviously bad for the energy sector itself; however, we're seeing no evidence at all that the travel industry will miss the boat."
The U.S. Travel Association developed the TTI in partnership with Oxford Economics, and draws from multiple data sources to develop these monthly readings. In order to compile both the CTI and LTI readings, the organization's research team utilizes multiple unique, non-personally identifiable data sets, including:
Learn more about the Travel Trends Index.
Click here to read the full report.
u.s. travel association,
travel trends index,
The U.S. Travel Association is the national, non-profit organization representing all components of the travel industry that generates $2.1 trillion in economic output and supports 15 million jobs. U.S. Travel's mission is to increase travel to and within the United States.
Contact: Cathy Keefe
Contact: Jamie Morris
As Business Centers Remain Required - Space Savings Technologies Provide Innovative Solutions
Travel Trends Index: Slight Uptick Across All Travel Segments
U.S. Travel Statement on New Travel Restrictions
Portions of Travel Trends Index Revised Sharply Downward on New Data
U.S. Travel Association Presents Florida Governor Rick Scott with Distinguished Leadership Award for Commitment to Travel and Tourism
Louisiana's Kyle Edmiston Wins 2017 State Tourism Director of the Year
Workers Who Start in Travel and Tourism Achieve Higher Peak Salary Than Most Industries
Marriott's Arne Sorenson and STR's Randy Smith to Be Inducted into U.S. Travel Hall of Leaders
The Business Center of the Future is Here!
Travel Trends Index: Int'l Travel to U.S. Continues Strong Showing Post-Executive Order
Looking for Another BUSINESS CENTER Solution? Discover Why the Industry Shift Is ON and Why It's to TTI
U.S. Travel Trends Index: International Travel Post-Executive Order Stronger Than Expected
U.S. Travel Industry Rallies Behind Brand USA
Travel Trends Index: International Inbound Travel Shows Signs of Weakness
TTI Technologies Reports It's Time to Upgrade and Eliminate Costs With Your Business Center. You and Your Guests Deserve Better.
Wyndham Hotel Group’s Geoff Ballotti Named U.S. Travel National Chair
Travel Trends Index: International Travel Unexpectedly Strong to Start 2017
U.S. Travel Reacts to Trump's Joint Session Address
International Travel to U.S. Finally Returns to Pre-9/11 Levels
Travel Trends Index: Following a Strong 2016, Outlook Improves for Domestic Biz Travel
Please login or register to post a comment.