travel spend
Australia Household Spending Slips in Sept, Confounding Rebound Hopes
November 1, 2024
By Wayne Cole SYDNEY (Reuters) - Australian household spending fell in September as consumers cut back on clothing and cars, data showed on Friday, further confirmation that billions of dollars in recent tax cuts were being saved rather than spent. That should be a downside surprise to the Reserve Bank of Australia (RBA) which had expected consumption to pick up in the second half of this year and could see it adopt a more dovish tone at a policy meeting next week. "The data looks very weak over the last three months and surprisingly soft," said Gareth Aird, head of Australian economics at CBA. "If the data is close to accurate th...
ITA Data Release: August 2024 International Inbound Visitor Spending
National Travel and Tourism Office | October 11, 2024
International Visitors Spent $21.5 Billion in August 2024 Data recently released by the National Travel and Tourism Office (NTTO) show that in August 2024: International visitors spent $21.5 billion on travel to, and tourism-related activities within, the United States during the month of August, an increase of more than 11 percent compared to August 2023. Conversely, Americans spent more than $20.6 billion traveling abroad during August, yielding an $865 million balance of trade surplus for travel and tourism-related goods and services. International visitors have spent more than $168.6 billion on U.S. travel and tourism...
Road Trippin’ Is the Vibe as Travel Slows Across the U.S.
Mandy Murry | September 6, 2024
The news is bleeding with travel gloom and discouraging numbers for the hospitality market. Headlines tout softening and consumer spending coming to a halt while exploiting the idea that luxury travel is both thriving and diving. Bloomberg reported that even with deep-pocketed travelers, the word right now is “value.” Reality: Travel is slowing, but this has been happening, and the news cycle is catching up to reports and trends of 2024. Consumers have been living high in travel mode—living for the experience and not afraid to put the fun on credit for some time. Spending has caught up with many, and thus, household budgets are...
Travel Prices Remain Stable Through July
U.S. Travel Association | August 15, 2024
The U.S. Bureau of Labor Statistics Consumer Price Index release for July reflected a continuation of the encouraging trend of stable prices both for consumers overall and for travelers. Overall prices rose slightly for the month, while travel related prices were flat. “Overall, comparisons month-to-month, year-over-year, and against pre-COVID-19 levels all show today’s prices are more favorable for travelers,” said Joshua Friedlander, Vice President of Research at the U.S. Travel Association. According to the U.S. Travel Association-calculated Travel Price Index (TPI), prices were on average the same in July as for the prior m...
ITA Data Release: International Visitors Spent $21.2 Billion in June 2024
National Travel and Tourism Office | August 13, 2024
Data recently released by the National Travel and Tourism Office (NTTO) show that in June 2024: International visitors spent $21.2 billion on travel to, and tourism-related activities within, the United States during the month of June, an increase of more than 14 percent compared to June 2023. Conversely, Americans spent more than $20.8 billion traveling abroad during June, yielding a slight balance of trade surplus of $360 million for travel and tourism-related goods and services. International visitors have spent nearly $126.2 billion on U.S. travel and tourism-related goods and services year to date (January through June 20...
Summer Trip Length and Spending Both on the Rise in 2024
Allianz Partners | August 8, 2024
Average Trip Length Expected to Grow to 4.6 Nights as the Amount Spent on 3-Night Trips Nearly Doubles Over Two Years RICHMOND, Va., Aug. 8, 2024 -- Americans are planning to take longer stretches of time off this summer, according to Allianz Partners USA's 16th Annual Vacation Confidence Index. New research indicates that travel remains a strong priority based on an increase in both average trip length and average spend on room nights, with staggering splurge statistics reported for three-night getaways. Travelers splurge on 3-night trips, nearly doubling their average spend over the last two years. As both trav...
International Visitors to U.S. Spent $21.6 Billion in May 2024
NATIONAL TRAVEL AND TOURISM OFFICE | July 25, 2024
Data recently released by the National Travel and Tourism Office (NTTO) show that in May 2024: International visitors spent a record-setting $21.6 billion on travel to, and tourism-related activities within, the United States during the month of May, an increase of more than 16 percent compared to May 2023 and surpassing pre-COVID records set in March 2018; in fact, monthly U.S. travel and tourism exports have never been higher. Conversely, Americans spent nearly $20.5 billion traveling abroad during May, yielding a balance of trade surplus of more than $1.1 billion for travel and tourism-related goods and services. International ...
Global Business Travel Industry Spending Expected to Hit Record $1.48 Trillion in 2024
Global Business Travel Association | July 23, 2024
Boosted by economic stability, pent-up demand and recovery momentum, spending is projected to surpass $2 trillion by 2028 according to the latest GBTA Business Travel Index Report The business travel industry has proven itself resilient as it leaves the global pandemic behind and moves into a new era of post-pandemic stabilization. The forecast for 2024 predicts global business travel spending will reach $1.48 trillion USD by the end of the year, an increase on 2019 spending which was a previous record at $1.43 trillion. Additionally, by 2028, it is projected to exceed $2.0 trillion, highlighting a robust path ahead for the business travel...
