Updated Back to Business report highlights the uneven recovery of this industry segment, remaining challenges, the near-term outlook including the latest projected recovery timelines as well as future opportunities.
Leisure travel is expected to be off the charts this summer—surpassing 2021 and approaching pre-pandemic levels. However, hurdles to a full leisure travel recovery remain.
Based on a survey of both corporate executives and business travelers as well as a business travel index measuring business travel activity and economic factors, this quarterly release monitors business travel performance for the current quarter and expectations for the following quarter.
The latest forecast projects that all segments of travel, in spite of rising inflation, will thrive in the short term due to pent-up demand and consumer savings. However, this is not expected to last, leading to slower growth in the coming years.
Developed by the U.S. Travel Association, the Travel Price Index (TPI) measures the one-month change in the cost of travel ("travel inflation") away from home in the United States on a seasonally adjusted basis and the 12-month change of the cost of travel away from home in the U.S. on a seasonally unadjusted basis. The TPI is released monthly and is directly comparable to the CPI.
Monthly member-exclusive summary of the latest economic, consumer and travel indicators, trends and analysis featuring key highlights from the Travel Recovery Insights Dashboard.
Senator Bill Hagerty (R-TN) is currently serving his first term representing his home state of Tennessee and brings a wealth of experience and familiarity with the travel industry to the role. Watch...
