Travel Trends Index: Surging Domestic Leisure Travel Offsets Softening Business, International Markets
February 2, 2016 11:38am
U.S. Travel’s New Economic Indicator Is Signature Measurement of $2.1 Trillion Industry’s Performance in Broader U.S. Economy
WASHINGTON (February 2, 2016)—The U.S. Travel Association on Tuesday released its inaugural Travel Trends Index (TTI), a two-prong indicator developed by the organization’s economic research team to both track and predict the volume and pace of travel to and within the U.S. The TTI will be released on the first Tuesday of each month.
This month’s TTI—which measures travel trends as of December 2015—shows that travel growth leveled off at the end of the year and forecasts moderate growth in early 2016.
Domestic leisure travel continues to strengthen, thanks to rising wages and low gas prices.
Business travel, by contrast, contracted due to volatile markets and rising interest rates, although the TTI predicts a slight recovery for that segment in the first half of 2016.
Inbound international travel, while still on a slight growth trajectory, has leveled off considerably due to the strong U.S. dollar.
The TTI 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 indicates contraction.
“The clear picture that the TTI provides of the economic trajectory of travel will enable both federal policymakers and members of our industry to make informed decisions,” said U.S. Travel Association President and CEO Roger Dow. “The indispensability of travel and tourism to the broader economy has been evident for some time, but now we have the definitive resource for measuring both its recent and future performance. The TTI is a powerful tool, and further cements travel’s place as a leading U.S. industry.”
The TTI draws from multiple data sources to develop a monthly reading of both international inbound and domestic business and leisure travel numbers, and predict the likely average pace and direction of these travelers over upcoming three and six month periods.
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.
The U.S. Travel Association developed the TTI in partnership with Oxford Economics. In order to compile both the CTI and LTI readings, the organization’s research team draws from multiple unique, non-personally identifiable data sets, including:
Learn more about the Travel Trends Index.
Click here to read the full report.
Tags: travel trends index,
u.s. travel association
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
WebRezPro PMS Integrates TTI Scan2PMS ID Scanning Solution
The Carnegie Hotel Modernizes its Business Center Solution with Microsoft Surface Pro Tablets
Visit U.S. Coalition Launches Amid Drop in U.S. Share of Global Travel
U.S. Travel Association President and CEO Roger Dow Says Addressing Falling Inbound Travel Needs to Become a National Priority
Travel Trends Index: Domestic Leisure Travel Withstands Harvey and Irma
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.
Please login or register to post a comment.