travel forecast
Travel & Tourism Set to Contribute a Record $182BN to the Canadian Economy This Year
The World Travel & Tourism Council | May 24, 2024
London, UK: The World Travel & Tourism Council (WTTC) is forecasting an historic year for Canada’s Travel & Tourism sector this year, with the economic contribution set to reach an all-time high of almost $182BN. Reaching $182.1BN in 2024 represents an additional $8.1BN over its previous peak, affirming the sector’s significant role as an economic force, responsible for generating one in every 15 dollars of economic activity. In partnership with Oxford Economics, WTTC’s latest research highlights a sector abundant with opportunities, supporting 1.84MN Canadian jobs, with an increase of 120,000 jobs compared to the previou...
Memorial Day Travel Expected to Break Records
U.S. Travel Association | May 22, 2024
Memorial Day Weekend – May 25-27 – is the unofficial kick-off of summer and it is expected to kick start what will be a record-breaking summer travel season. Booking data reveals that theme park and entertainment venues like Orlando and Las Vegas continue to captivate travelers' interest, alongside sunny locales such as Fort Lauderdale, Southern California and Miami. Urban destinations including New York, Denver and Boston also rank high among Memorial Day getaway choices. Both roads and airports will be extremely busy – here’s more on what’s expected for this record-breaking weekend. Road Travel AAA forecasts almost 44 million ...
Business Travel Professionals Show Optimism, Commitment in Their Career Outlook for 2024, According to Latest GBTA Poll
GBTA | April 30, 2024
Business Travel Professionals Show Optimism, Commitment in Their Career Outlook for 2024, According to Latest GBTA Poll Work life balance, contentment and industry opportunity in their roles fuel loyalty Global travel buyers and suppliers also report continued knowledge gaps, desire for clarity and implementation challenges related to New Distribution Capability As the business travel industry continues to show strong indicators toward reaching a spending forecast of $1.5 trillion USD in 2024, the latest sentiment poll released today from the Global Business Travel Association (GBTA) reveals an industry workforce of experienced,...
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...
