Travel Trends Index: Following a Strong 2016, Outlook Improves for Domestic Biz Travel
February 7, 2017 12:06pm
WASHINGTON (February 7, 2017)—Travel weathered an abundance of challenges and continued to grow throughout 2016, according to the U.S. Travel Association's latest Travel Trends Index (TTI). The final TTI based on 2016 data shows that travel to and within the U.S. grew 2.4 percent from December 2015, while the forecast component shows that travel will continue to expand at a moderate pace in the near term.
The story of the latest TTI is undoubtedly domestic business travel. Following a TTI based on November's data showing renewed strength for domestic business, buoyed by a post-election stock market surge, the sector's immediate growth declined slightly in December 2016. However, the TTI's Leading Travel Index (LTI) indicates that domestic business travel's growth rate will rebound, and catch up to that of domestic leisure travel—the sector that has long led U.S. travel growth.
The analysis and forecasts in the latest TTI are through December 2016—prior to any executive orders issued by the new Trump administration on border security and visas.
"Looking back on 2016, it is remarkable to observe the resilience of the travel industry, which is approaching its eighth straight year of expansion," said U.S. Travel Association Senior Vice President for Research David Huether.
In the full TTI report, the 6-month predictive Leading Travel Index (LTI) reading of 51.1 indicates that U.S. Travel volume is expected to grow at a rate of around two percent through June 2017.
The TTI consists of the Current Travel Index (CTI), which measures the number of person-trips involving hotel stays and/or flights each month, and the Leading Travel Index (LTI), which measures the likely average pace and direction of business and leisure travel, both domestic and international inbound. It assigns a numeric score to every travel segment it examines—domestic and international, leisure and business—in current, 3-month and 6-month predictive indicators. As with many indices similarly measuring industry performance, a score above 50 indicates growth, and a score below 50 indicates contraction.
The U.S. Travel Association developed the TTI in partnership with Oxford Economics, and draws from multiple data sources to develop these monthly readings. In order to compile both the CTI and LTI readings, the organization's research team utilizes multiple unique non-personally identifiable data sets, including:
Learn more about the Travel Trends Index.
Click here to read the full report.
Tags: u.s. travel association,
travel trends index
The U.S. Travel Association is the national, non-profit organization representing all components of the travel industry that generates $2.1 trillion in economic output and supports 15.1 million jobs. U.S. Travel's mission is to increase travel to and within the United States.
Contact: Cathy Keefe Reynolds,
Visit U.S. Coalition Launches Amid Drop in U.S. Share of Global Travel
U.S. Travel Association President and CEO Roger Dow Says Addressing Falling Inbound Travel Needs to Become a National Priority
Travel Trends Index: Domestic Leisure Travel Withstands Harvey and Irma
Travel Trends Index: Slight Uptick Across All Travel Segments
U.S. Travel Statement on New Travel Restrictions
Portions of Travel Trends Index Revised Sharply Downward on New Data
U.S. Travel Association Presents Florida Governor Rick Scott with Distinguished Leadership Award for Commitment to Travel and Tourism
Louisiana's Kyle Edmiston Wins 2017 State Tourism Director of the Year
Workers Who Start in Travel and Tourism Achieve Higher Peak Salary Than Most Industries
Marriott's Arne Sorenson and STR's Randy Smith to Be Inducted into U.S. Travel Hall of Leaders
Travel Trends Index: Int'l Travel to U.S. Continues Strong Showing Post-Executive Order
U.S. Travel Trends Index: International Travel Post-Executive Order Stronger Than Expected
U.S. Travel Industry Rallies Behind Brand USA
Travel Trends Index: International Inbound Travel Shows Signs of Weakness
Wyndham Hotel Group’s Geoff Ballotti Named U.S. Travel National Chair
Travel Trends Index: International Travel Unexpectedly Strong to Start 2017
U.S. Travel Reacts to Trump's Joint Session Address
International Travel to U.S. Finally Returns to Pre-9/11 Levels
U.S. Travel Welcomes Senate Confirmation of Rex Tillerson for Secretary of State
U.S. Travel Association Lauds Elaine Chao Confirmation for Secretary of Transportation
Please login or register to post a comment.