U.S. travel volume grew 3.2% year over year in May, according to the U.S. Travel Association's Travel Trends Index.
Total domestic travel grew 3.6%, with growth in both business and leisure volume. Domestic business travel grew 3% and domestic leisure grew 3.6%. The slower growth of business travel, which has smaller volume compared to leisure travel and, therefore, a smaller calculation value in U.S. Travel's index formula, pulled total travel growth down slightly, but not enough to register on the index after rounding.
U.S. Travel forecasts a slowdown in the coming months. From June through November 2019, the organization projects total domestic travel will grow 2%. That's slower than any of the previous six months, and business travel will cool faster than leisure, resulting in a stronger downward pull on overall domestic travel growth in the coming months. U.S. Travel attributes the projected slowdown to weaker consumer spending and hesitation in business investment.
International inbound travel to the U.S. for May grew 1.2% year over year. From June through November 2019, it is projected to slow to 0.4% year over year due to weaker economic activity, prolonged and expanding trade tensions and uncertainty surrounding the Trump administration, according to U.S. Travel.
Source: Business Travel News