travel spending
Gen-Z Leads Comeback of Travel Spending: Here Is What They Want When It Comes to Hotels
Venkatesh Sakamuri | July 19, 2022
By Venkat Sakamuri Just a decade ago, the idea of a store that was entirely self-service – devoid of the smiling faces of staff we’ve grown so accustomed to – may have seemed far-fetched. Not impossible, of course, but at the time, this was a reality reserved for TV shows and movies rather than our everyday life. Today, however, the era of self-service is not only upon us – it’s already begun. As the COVID-19 pandemic upended our world as we knew it, the demand for touchless self-service (which was already alive and well) accelerated at an undeniably rapid pace. Where hands-on, in-person service was once the standard, self-ser...
Latest Projection: Travel Spending in U.S. to Plunge by Nearly Half This Year
November 17, 2020
WASHINGTON (November 17, 2020)—Travel spending in the U.S. is expected to finish the year 45% down from 2019 levels, and will still not have returned to its pre-pandemic strength by 2024, according to the latest figures released by the U.S. Travel Association. The new 2020 projected travel spending figure of $617 billion is slightly worse than U.S. Travel’s previous forecast released in July ($622 billion)—and is a precipitous drop from the $1.13 trillion spent on travel in the U.S. overall in 2019. The nosedive reflects a decline of 34% in domestic leisure travel spending—but even sharper drop-offs in the lucrative domestic bus...
New Study: Travel Spending in U.S. to Plunge 45% This Year
The U.S. Travel Association | June 17, 2020
WASHINGTON (June 17, 2020)—Total travel spending in the U.S. is predicted to drop 45% by the end of this year, spurring renewed calls for federal measures to support the industry that was one of the top U.S. employers and exporters prior to the pandemic. According to a forecast prepared for the U.S. Travel Association by Tourism Economics, domestic travel spending is forecast to drop 40% (from $972 billion in 2019 to $583 billion in 2020) while international inbound spending is expected to freefall a whopping 75% ($155 billion to $39 billion). Total domestic trips taken by U.S. residents are expected to fall 30% from last year to 1....
2019 SpendSmart Year in Review Report Highlights Corporate Travel Spend Data
Certify, part of Emburse | February 6, 2020
PORTLAND, Maine--February 6, 2020--Certify, part of Emburse, a global leader in expense management and accounts payable automation, has released its 2019 SpendSmart™ Year in Review Report. The report highlights key data insights and trends in corporate travel spend, and identifies the most popular airline, meal, lodging, and transportation services among North American business travelers, based on more than 50 million receipts and expenses submitted by Certify users. The food delivery category saw the fastest growth, seeing an 86% year-over-year increase in transactions. DoorDash overtook Grubhub as the most expensed food delivery servic...
Americans to Top $100 Billion in Vacation Spending This Summer
July 14, 2017
Allianz Global Assistance's Annual Vacation Confidence Index Reveals that Generation X Travelers Will Spend Nearly Twice as Much as Millennials and More than Baby Boomers Americans are spending more on summer vacations this year, topping $100 billion for the first time, according to the eighth annual Allianz Travel Insurance Vacation Confidence Index released today by Allianz Global Assistance. This is the first time in the survey's eight year history that vacation spending has surpassed the $100 billion mark and represents a 12.5 percent increase over last year. Americans' spending habits have risen for the second consecutive year &...
Travel Spending has Increased by $48 billion – So What are Travelers Spending Money On?
Bojan Jokic | November 19, 2015
by Bojan Jokic The United Nations World Tourism Organization (UNWTO) recently released data on the spending habits of tourists in 2014, which put $1.2 trillion back into the global economy — an increase of $48 billion from the previous year. The same report revealed that receipts from international visitors spending on accommodation, food and drink, entertainment, shopping and other services and goods reached an estimated US$ 1,245 billion (euro 937 billion) in 2014, an increase of 3.7%. The global business travel market generates sales worth hundreds of billion U.S. dollars every year and it includes both national and internatio...
