US Travel's First Travel Trends Index: What Can We Learn?
On Tuesday, the U.S. Travel Association released its first Travel Trends Index (TTI), an indicator developed to track and predict the volume and pace of travel to and within the United States.
The U.S. Travel Association will release a new TTI on the first Tuesday of each month.
The inaugural TTI measured travel trends as of December 2015, and it indicates that travel growth has leveled off. The report also forecasts that early 2016 will feature moderate growth for the travel industry.
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In the report, the U.S. Travel Association claims the domestic leisure travel industry continues to succeed, while Business travel has gone down. The TTI predicts the business travel industry should recover during the first half of 2016, though.
On the other hand, inbound international travel has leveled off recently, as the strength of the dollar in the United States has made it more expensive.
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U.S. Travel Association President and CEO Roger Dow released a statement about the TTI:
“The clear picture that the TTI provides of the economic trajectory of travel will enable both federal policymakers and members of our industry to make informed decisions. The indispensability of travel and tourism to the broader economy has been evident for some time, but now we have the definitive resource for measuring both its recent and future performance. The TTI is a powerful tool, and further cements travel's place as a leading U.S. industry.”
To develop the TTI, the U.S. Travel Association uses a combination of the Current Travel Index— which measures the number of person trips involving hotel stays and/or flights each month—and the Leading Travel Index, which measures the average pace and direction of both domestic and international inbound business and leisure travel.
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