As we head into the busy summer tourism season, many businesses and entrepreneurs will be zoning in on forecasts and hoping for a favorable, profitable tourism season. Many economic indicators of the recent months are showing signs of positive economic recovery. The recent decline in oil and gas prices, if prices hold steady over the summer, will definitely build into stronger tourism economics.
US Travel Association – Tourism, Travel Information and Forecasts
The US Travel Association, a National organization providing support to businesses in the travel and tourism industry in the US, has provided the following travel forecast. For 2012, the Association has projected 3.2% growth for expenditures in the sector, and positive growth for both domestic and international visitor travel expenditures (3.0 and 4.7% respectively). Trends also look favorable for the 2013 and 2014 tourism seasons.
The following information was extrapolated from the Association’s recent survey reports:
- 64% of US adults are planning leisure travel from April – October 2012
- 154 Million US adults plan to take at least one leisure trip this year
- Business travel has been forecasted to increase by 4.6% to $265-270 Billion
- 65.4 Million international travelers will visit the United States in 2012
Tourism and travel businesses should sharpen their strategic and business plans to reflect global travel trends… the next few years look favorable if the forecasts play out.
Here are some other blogs on recent economic indicators and business opportunities:
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