Travel Trends Index: International Sector Powers Strong Overall Finish to Q1
May 9, 2018 1:22pm
WASHINGTON (May 8, 2018)—Travel to and within the United States was up 3.4 percent year-over-year in March, according to the U.S. Travel Association's latest Travel Trends Index (TTI)—marking the industry's 99th straight month of overall expansion.
The March TTI generated some eye-catching numbers, mainly due to the earlier timing of Easter (April 1). Higher volumes of international travelers tend to visit the U.S. close to that holiday, while domestic business travel typically falls, according to U.S. Travel researchers.
Accordingly, international inbound travel to the U.S. registered eye-popping 11 percent year-over-year growth in March. Domestic travel, meanwhile, posted modest growth of 2.6 percent, and was largely dragged down by weak domestic business travel (up a meager 0.2 percent).
Still, the TTI forecasts a healthy trajectory for travel overall through 2018. The Leading Travel Index (LTI)—the predictive component of TTI— projects an overall growth rate of 2.2 percent through September, with the international sector growing three percent in that period.
But despite the positive outlook for international travel, U.S. Travel economists note that the U.S. is likely squandering a massive economic opportunity by failing to keep pace with the international travel boom. The U.S. share of the global international market slid from a peak of 13.6 percent in 2015 to 11.9 percent last year.
"On the bright side, we are not experiencing the decline in international inbound travel that many feared," said U.S. Travel Senior Vice President for Research David Huether. "However, the U.S. is not keeping pace with the global travel boom. As a result, we are continuing to lose market share to competitors."
The TTI is prepared for U.S. Travel by the research firm Oxford Economics. The TTI is based on public and private sector source data which are subject to revision by the source agency. The TTI draws from: advance search and bookings data from ADARA and nSight; Airline bookings data from the Airlines Reporting Corporation (ARC); IATA, OAG and other tabulations of international inbound travel to the U.S.; and hotel room demand data from STR.
Click here to read the full report.
Tags: travel trends index,
The U.S. Travel Association is the national, non-profit organization representing all components of the travel industry that generates $2.4 trillion in economic output and supports 15.6 million jobs. U.S. Travel's mission is to increase travel to and within the United States.
Contact: Cathy Keefe Reynolds
Contact: Jamie Morris
Travel Trends Index: Domestic Biz Travel Projected to Surge, Int'l Inbound Travel Falters
Travel Trends Index: International Inbound Travel Growth Projected to Fizzle in First Half of 2019
Travel Trends Index: Gloomy Six-Month International Projections Overshadow Domestic Travel Gains
Travel Oregon’s Davidson, Atlanta CVB’s Richardson Inducted Into U.S. Travel Hall of Leaders
Travel Trends Index: Domestic Market Softens; Storm Clouds Gather for International
Travel Trends Index: Domestic Travel a Bright Spot, but Int'l Inbound Projected to Decelerate
Marriott International Selects TTI Technologies as an Approved Vendor to Manage Its Business Center Solutions for Its Franchisee's and Corporate Managed Properties
U.S. Travel to International Destinations Increased Nine Percent in 2017
Industry Execs Talk International Travel With President Trump, Senior Aides
U.S. Travel Honors Tourism Marketers at ESTO
TTI On The Move With Paul Payette
Travel Trends Index: Strength of Domestic Travel Lessens Sting of Sluggish International Growth
Travel Trends Index: Domestic Business Travel Projected to Outpace Leisure Segment
The Skyline Hotel Communicates With TTI's Premier Information Board
Travel Trends Index: Business Travel Thriving as Travel Expands for 100th Straight Month
Summer In The City: Marriott International Study Finds Cities Top the List for Vacation Plans
Hotel Check-In Has Never Been Easier
Study Reveals 'OTA Premium': Travelers Who Book Through OTAs Stay Longer, Spend More During Trips
U.S. Travel Unveils Tool to Measure Tourism's Impact on State Economies
Meetings & Events Industry Releases New Economic Impact Data
Please login or register to post a comment.