US Travel Outlook - Research & Trends from Dr. Suzanne Cook:
As the new year begins, the United States economy continues to improve. Federal Reserve Chairman Ben Bernanke recently offered an optimistic view on the U.S. economy's prospects.
LABOR December 2013 capped a strong year for travel jobs. "Travel industry jobs continued their strong positive trend even as the pace of overall job growth decelerated in December,"according to David Huether, senior vice president for economics and research at U.S. Travel.
CONSUMER CONFIDENCE With generally better economic reports, consumer confidence has been improving as well.
CONSUMER SPENDING Rising home values are boosting the economy by giving owners more confidence to spend, according to Daren Blomquist, a RealtyTrac vice president.
Business travel is set to increase in 2014, according to a survey conducted by Frequent Business Traveler magazine.
MEETINGS According to the November 2013 TravelClick North American Hospitality Review, hotels are benefitting from a stronger group travel segment, and the outlook is positive for the future.
According to Travel Weekly, 2014 should be a year of growth and prosperity for the U.S. travel industry.
Commercial aviation turned 100 on January 1, 2014. The first commercial air flight took off on January 1, 1914, operated by the St. Petersburg-Tampa Airboat Line, taking 23 minutes and piloted by Tony Jannus.
The U.S. hotel industry reported positive results during November 2013, according to STR: supply (+0.7%), demand (+2.8%), occupancy (+2.1%), average daily rate (ADR) (+2.6%) and revenue per available room (RevPAR) (+4.7%).
According to the National Travel and Tourism Office (formerly the Office of Travel and Tourism Industries) in the U.S. Department of Commerce, international air traffic to and from the U.S. totaled 155.8 million passengers through October 2013.
EXPORTS Travel exports rose to $15.3 billion in November 2013, increasing for the eighth time in the past 11 months, according the U.S. Travel Association's David Huether, based on an analysis of the latest trade data from the Bureau of Economic Analysis.
POLICY As an election year, 2014 is going to be a critical time for the travel industry. U.S. Travel and the entire travel community will continue to cultivate and encourage travel champions in Congress and the Administration.
Source: US Travel Association