November 15, 2005

Travel Forecast

Well, we just got the forecast numbers from the Travel Industry Association of America. With all the recent travel news, the press release's subtitle, "Healthy Performance for 2005; Cause for Concern in 2006," probably shouldn't have been too much of a shock.

It looks like 2005 is wrapping up to be a pretty positive year for the US travel industry; the report says there's about a 4% growth in leisure travel this year with international travel to the US increasing by 7%. And spending by both domestic and international travelers is on the rise, increasing 7.8% to nearly $646 billion.

But that's where the good news ended; it looks like the slow growth they're seeing in the last quarter of 2005 casts a gloomy shadow over 2006. According to the report, "Leisure travel volume is forecasted to increase just 2 percent in 2006, while international travel to the U.S. will rise 5.5 percent. Compared to 2005, the growth in travel spending by domestic and international visitors will increase a more modest 4.4 percent in 2006 to $674 billion."

At least that's still positive growth and, in a time of rising costs and rising concerns, that's not too bad.

Dr. Suzanne Cook, senior vice president of research for the Travel Industry Association of America, said, "I don’t expect Americans to stop traveling; I simply think they will be more careful when it comes to making travel decisions."

But then, being more careful when making those travel decisions is never a bad thing. Research before the trip can be a big part of the fun; it can also save you money on your trip and help you make sure you pick out just the right destination for your next romantic getaway.

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