Published on : Wednesday, June 6, 2018
U.S. Travel Association cautioned that the U.S. is still behind other nations in being a part of the booming international travel market. In April travel to and within the U.S. grew 3.6% year over year.
U.S. Travel senior vice president for research David Huether stated that the overall travel is comparatively better particularly the domestic travel but there should be more concerns for the U.S. travel industry as there is a decline in its share of the global travel market.
Earlier in the economic recovery the business confidence was soft but now there is a resurgence that is attributed in part to the recent tax cuts and the favorable regulatory environment.
For domestic business travel April was strong and it grew for the fourth consecutive month. There was a positive streak for the segment during the first four-month since January- April as per the U.S Travel.
It is expected that the upbeat global demand and weaker dollar will be supporting the inbound travel. The reduction in international arrivals in April was because of the Easter calendar shift.
In the coming six months the international inbound travel is expected to grow at an average of about 3%. It will be outstripped by the growth of the long-haul travel globally which will leave behind Germany, France, China and the United Kingdom.
Adam Sacks, president of Oxford’s Tourism Economics division, which provides U.S. Travel’s numbers mentioned that the international traveler sentiment is still at risk, the negative perceptions abroad of President Trump’s rhetoric policy is still a consideration.
The travel industry will gain in the second quarter, the economic indicators support an upbeat outlook for businesses and consumers, there will be healthy global demand for inbound travel.
Rising oil prices and increased trade tensions might be a concern but the domestic travel overall is anticipated to increase by an average of 2.4% through October 2018.