The U.S. Travel Association last week shared with its membership the report portion of its Travel Forecast.
The forecast report provides in-depth analysis and context to the previously released forecast table, to better inform our membership of travel industry performance over the past several years and to paint a clearer picture of the future of travel to and within the U.S.
While international inbound travel to the U.S. will expand through 2022, the rate of growth is not fast enough to keep pace with the rest of the world. Between 2018 and 2022, global long-haul travel is expected to increase by 21 percent, while overseas visitation to the U.S. will only increase by 13 percent.
International inbound visitor spending will begin to outpace domestic spending in 2019. International inbound visitor spending is forecasted to hit $148.6 billion in 2018, and expected to increase by an annual rate of four percent through 2022 to $192.4 billion.
A favorable economic environment will contribute to domestic business travel growth, which is anticipated to expand 1.6 percent in 2018. Growth in this market is expected to continue into succeeding years, growing 1.8 percent in 2019 and 1.4 percent in 2020.
Domestic leisure travel is forecasted to remain steady through 2020, thanks to historically high levels of consumer confidence. Domestic leisure travel volume is expected to increase two percent in 2018, and will record a slightly lower—though still steady—1.8 percent growth rate in 2019.
U.S. Travel members receive the full forecast report, plus numerous other research reports with information relevant to the travel industry. Learn more about the benefits of becoming a member here.