Geopolitical uncertainties are singled out in the latest Global Business Travel Forecast, which underscores the volatility the corporate travel industry is experiencing, and perhaps the pointlessness of trying to predict prices in the first place.
While the U.S. Travel Association didn't exactly stay in house for its critical hire, the organization believes Geoff Freeman's extensive travel experience — and knowledge of D.C. industry lobbying — will be crucial in helping boost the U.S. tourism industry at a pivotal time.
Following Memorial Day Weekend, Americans are still planning to travel during the next major U.S. summer holiday, but with more careful planning and sentiment stability about rising fuel prices.
In May, 47% of Americans traveled, a 4-percentage-point lift from the same time last year. In addition, 41% of U.S. consumers have already planned to travel and another 30% indicate they are likely to travel this summer, pointing to a very strong summer season for the U.S. travel industry.
Even without entry test requirements, travelers are likely to pause before rushing back to a country where hate crimes and mass shootings are becoming far too commonplace. How will the U.S. travel industry tackle one of the greatest potential threats to its recovery of international travel?
Pent-up demand for international travel seems unstoppable as tourists refuse to slow down regardless of the travel industry's ongoing anxiety concerning rising prices.