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For Immediate Release | Official News Wire for the Travel Industry

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Travel Trends Index: International and domestic travel growth projected to dwindle

April 2, 2019 by Forimmediaterelease

Travel to and within the U.S. grew 3.2% year-over-year in February, according to the U.S. Travel Association’s latest Travel Trends Index (TTI).

However, the predictive Leading Travel Index (LTI) continues to project a slowdown in both international and domestic travel growth, as both segments could continue to feel the effects of rising trade tensions, volatile financial markets and weakening business and consumer confidence. These factors have the potential to stunt travel growth and dull American competitiveness at a time when the U.S. is seeking to reverse its declining share of the global international travel market.

Though international inbound travel grew for the ninth consecutive month, the segment grew only 1.4% in February. Domestic travel increased 2.8% year-over-year in February, with growth in both the business and leisure travel segments. Domestic business travel outpaced the leisure segment for the first time since October 2018, registering slightly above its six-month moving average with a 3.0% growth. Leisure growth fell slightly below its six-month moving average with a more tepid 2.6% growth rate.

Looking ahead, domestic and international inbound travel are both projected to grow, but at a moderate pace.

Said U.S. Travel Senior Vice President for Research David Huether: “Growth is expected to decelerate in the case of domestic travel while international inbound travel is projected to remain soft. This is consistent with an expectation of stable-yet-moderating economic growth both in the U.S. and globally.”

U.S. Travel economists caution that this decelerated growth rate will make it even more difficult for the U.S. to regain its diminishing share of the global international travel market. Acting on certain legislative initiatives—such as Brand USA’s long-term reauthorization and the rebranding and expansion of the Visa Waiver Program—can help the U.S. increase competitiveness in the global travel market.

The TTI is prepared for U.S. Travel by the research firm Oxford Economics. The TTI is based on public and private sector source data which are subject to revision by the source agency. The TTI draws from: advance search and bookings data from ADARA and nSight; airline bookings data from the Airlines Reporting Corporation (ARC); IATA, OAG and other tabulations of international inbound travel to the U.S.; and hotel room demand data from STR.

Click here to read the full report.

Travel News | eTurboNews

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WTTC: South Africa Africa’s largest Travel & Tourism economy in 2018

March 18, 2019 by Forimmediaterelease

Travel & Tourism in South Africa contributed 1.5 million jobs and ZAR425.8 billion to the economy in 2018, making it the largest tourism economy in Africa, according to the World Travel & Tourism Council’s (WTTC) annual review of the economic impact and social importance of the sector released today.

For over 25 years, WTTC, which represents the global private sector of Travel & Tourism, has compared the Travel & Tourism sector across 185 countries. The 2018 research shows that the South Africa Travel & Tourism sector:

• Contributed ZAR425.8 billion to the country’s economy – the largest of any country in Africa. This represents 8.6% of all economic activity in South Africa

• Generated 1.5 million jobs, or 9.2% of total employment

• Was primarily driven by leisure travelers: 64% of the travel economy was generated by leisure visitors and 36% from business travelers

• Is roughly balanced between international and domestic travel: 44% of the tourism spend came from international travelers and 56% from domestic travel

Commenting on the numbers, Gloria Guevara, WTTC President & CEO said: “Travel & Tourism contributes more to the South Africa economy than in any other African country. In total our sector contributes ZAR425.8 billion and 1.5 million jobs which makes it a formidable part of the economy.

“South Africa has long grasped the potential of Travel & Tourism to drive economic growth, create jobs and promote social development and I would like to acknowledge the leadership of Minister of Tourism, H.E. Derek Hanekom. That is why we welcome President Ramaphosa’s ambition to double the number of people directly employed in T&T in South Africa.

“Looking to the future, I believe that Travel & Tourism is South Africa’s greatest resource and the country’s strategy for expansion which priorities regional integration, environment sustainability and putting the community at the heart of decisions will make for a successful combination.”

Travel News | eTurboNews

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