2010 Travel Projected to Grow

2010 Travel Projected to Grow

14-11-2009

The U.S. Travel Association today announced that projected modest 2010 increases in leisure, business and international inbound travel will enable the industry to add nearly 90,000 American jobs. Leisure travel is expected to rise 2.0 percent, business travel is projected to increase by 2.5 percent and international inbound travel will increase by nearly 3.0 percent. These job gains come on the heels of 400,000 combined travel industry job losses in 2008 and 2009.

Domestic leisure travel is expected to increase 2% in 2010 with a corresponding increase in leisure travel spending of nearly 5%.  Domestic business travel will also grow 2.5% next year and business travel spending will increase 4%. Dr. Susanne Cook, a senior official of the U.S. Travel Association, stated that projected growth in leisure travel is an indicator of rising consumer confidence and disposable income. Business travel will increase, she added, based on pent-up demand for face-to-face meetings that drive growth and productivity.

Even international bound travel will increase nearly 3% in 2010, though overseas travel is projected to remain stable at 1%. Overseas travelers usually contribute much more per capita to U.S. coffers than Canadian or Mexican travelers, so there is a concern there. However, overall, travel is looking to pick up a bit next year.