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US travel market to hit $740 billion
Prospects are good next year for both inbound and outbound leisure travel, according to AAA and the Travel Association of America (TIA).
Domestic leisure travel for the first half of 2006 was up 3.5% over the same period last year, said Suzanne Cook of TIA. Business travel, however, was down 1%.
Business travel continues to be supported by the convention and meeting market, says TIA.
Domestic leisure travel overall this year should be up in 2006.
“We believe total expenditures will total $702 billion, which is up 7.5% over last year.
There should be another increase in 2007, bringing the travel market to $740 billion.
Americans are also increasing their travel overseas, which is up 6%, according to Sandra Hughes, AAA Travel, vice president.
Less than one third of Americans have passports, but the application rate is going up.
International tour bookings are up almost 15% for travel between now and 2007.
Trends noted by Ms Hughes:
Ø Exotic destinations such as India and Egypt are increasingly popular.
Ø Traveling with children is on the rise.
Ø Volunteering while on vacation is another trend.
Ø Travelers are tending to favor cruises of five days or less.
Report by David Wilkening
David
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