Travel industry recovery

Monday, 11 May, 2004 0

The long-awaited travel industry recovery is in full swing and will remain so through 2004 and 2005, according to The Travel Industry Association of America annual forecast.

 

Key findings:

 

       —-Overall spending by domestic and international travelers is expected to grow 6% this year alone.

 

       —-Leisure travel is forecast to be up 3.5 percent. 

 

       —-And the moribund business travel sector should make its first gains since 1999. It is expected to grow 4.6 percent.

 

The combination of a strengthening economy and an increase in consumer confidence and spending is making 2004 shape up as one of the strongest travel years in a long time, according to William S. Norman, president and CEO of the TIA.

 

He predicted overall travel spending would surpass record levels set in 2000.

 

Report by David Wilkening



 

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David



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