travel forecast
55.4 Million Americans Expected to Travel for Thanksgiving
AAA | November 13, 2023
WASHINGTON, DC (November 13, 2023) – AAA projects 55.4 million travelers will head 50 miles or more from home over the Thanksgiving holiday travel period*. This year’s Thanksgiving forecast is an increase of 2.3% over last year and marks the third-highest Thanksgiving forecast since AAA began tracking holiday travel in 2000. The top two years were 2005 and 2019, respectively. “For many Americans, Thanksgiving and travel go hand in hand, and this holiday, we expect more people on the roads, skies, and seas compared to 2022,” said Paula Twidale, Senior Vice President of AAA Travel. “Travel demand has been strong all year, and AAA�...
Converging Factors: Is a Soft Landing Possible?
Aaron Szyf | October 3, 2023
With mixed economic data, economists—for over a year—have been warning of a possible recession sometime in 2023, though they seem to have consistently pushed the can down the road. By Aaron Szyf As we enter the final quarter of the year, is this recession still happening? And what does this mean for travel? Optimism, among some: To the delight of many, in recent weeks, the term “soft landing”—an ideal situation when the Fed can raise interest rates just enough to curb high inflation but without causing a recession—has been gaining traction. In fact, Goldman Sachs has significantly cut their recession odds over the nex...
New Travel Forecast Shows Normalizing of Leisure Travel Demand From Post-Pandemic Surge
U.S. Travel Association | June 15, 2023
WASHINGTON - The U.S. Travel Association released its biannual forecast for travel to and within the United States through 2026, showing a normalized rate of growth in the domestic leisure travel sector after months of elevated demand. “Robust domestic leisure travel demand has been the driving force in the overall industry’s post-pandemic comeback,” said U.S. Travel Association President and CEO Geoff Freeman. “Though the surge we experienced in the last year is starting to moderate, we expect this segment to remain resilient in coming quarters.” Domestic Leisure Travel Domestic leisure travel is expected to remain s...
ITA Data Release: January 2023 International Air Passenger Travel
International Trade Administration | February 23, 2023
Air Passenger Enplanements Up 68% YOY in January 2023 Air Passenger Travel Between the United States and Europe up 87% in January 2023 Data recently released by the National Travel and Tourism Office (NTTO) show that in January 2023: U.S.-International air traffic passenger enplanements (APIS/I-92 arrivals + departures) totaled: 18.038 million, up 68% compared to January 2022, with enplanements reaching 91% of pre-pandemic January 2019 volume. Originating Non-Stop Air Travel in January 2023 Non-U.S. Citizen Air Passenger Arrivals to the United States from foreign countries totaled: 4.034 million, up 76% compar...
ITA Forecasts Over 20% Increase of International Visitors to the United States in 2023
International Trade Administration | February 22, 2023
WASHINGTON, DC – The International Trade Administration (ITA) today released the U.S. federal government’s official forecast of international visitation to the United States. ITA’s National Travel and Tourism Office (NTTO) forecasts the total volume of international visitation to the United States to increase to 62.8 million in 2023, up 11 million, or 21.2%, from a total 51.8 million visitors in 2022. The forecast also estimates international visitation to reach 82.4 million in 2025, surpassing pre-pandemic 2019 visitation of 79.4 million. Additionally, international visitation is forecasted to reach 91 million in 2027. If reache...
Amid Worsening Economic Outlook, Excessive Visa Wait Times Deter Visitors to the U.S.
U.S. Travel Association | November 30, 2022
WASHINGTON (November 30, 2022)—U.S. Travel Association’s biannual travel forecast shows a significant downgrade in international inbound travel for the rest of 2022 and 2023—a worrying trend caused by economic concerns and exacerbated by excessive wait times for first-time visa applicants. Potential visitors from top source markets—including Brazil, India and Mexico—currently confront 400-800-day wait times to meet with U.S. Consular officials. “While economic concerns are natural, excessive visitor visa wait times are a manmade obstacle that the Biden administration seemingly refuses to address,” said U.S. Travel Associatio...
U.S. Travel Forecast: All Sectors Projected to Surge in Short Term, but Headwinds Are on Horizon
U.S. Travel Association | June 22, 2022
WASHINGTON (June 22, 2022)—Days after the United States repealed its Covid-19 testing requirement for inbound air travelers, U.S. Travel Association released its full biannual forecast for travel through 2026—including both travel spending and volume—which projects that all segments of travel, in spite of rising inflation, will surge in the short term due to pent-up demand and consumer savings. However, this is not expected to last, leading to slower growth in the later years of the forecast. The international component of the forecast was released earlier this month at the association’s IPW trade show. U.S. Travel estimates th...
Lodging Market Should Recover Fully by 2023
CBRE Group, Inc. | May 31, 2022
Drive-to and Leisure Hotels Continue to Perform Best Dallas – May 31, 2022 – CBRE is raising its forecasts of hotel performance for 2022 and beyond, based on Q1 2022 strength, continued slowing of construction activity, higher inflation and continued optimism about employment and economic growth. CBRE’s forecasts call for a full recovery in average daily rate (ADR) in 2022 and in demand and revenue per available room (RevPAR) in 2023. Despite headwinds from the Omicron variant, Q1 RevPAR reached $72.20, up 61 percent from year earlier. RevPAR growth was driven by a 39 percent increase in ADR)and a 16 percent increase in occupancy. ...
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