Tourism Economics’ Adam Sacks highlighted that though the U.S. is likely headed towards a mild recession in 2023, travel is uniquely positioned for this downturn and expected to prevail largely because:
- Momentum and pent-up demand for travel remain strong
- Households (and businesses) are in largely good fiscal positions
- Business travel continues to rebuild
While the domestic market has been the most resilient, recovery of the international sector has been—and is expected to remain—more sluggish as it continues to face significant headwinds.