Trends in Tourism - How People Travel
June 28, 2008
Today, the U.S. travel industry has reported excellent news for 2006 after accomplishing a complete recovery from the turndown in travel since 2000. According to TIA, in 2005, the demand went up and U.S. travel expenditures rose 7.7%. The TIA also predicted a growth slump in travel based on natural disasters and the decline in the nation’s economy. RTM was optimistic in predicting the growth at or above the 2006 based on pent up demand for travel, increased Baby-Boomer travel, and in-bound foreign travel due to the devaluation of the American dollar.
Rising travel demand for the 1996(as well as increased fuel costs) pushed travel prices up and still the consumers kept going. Lodging, car rentals and air travel also went up and still gaming and cruises continued on pace.
In 2007, the top travel and tourism trend was the continuous U.S. economic growth, which contributed $650 billion dollars into the U.S. economy, making the travel industry the third largest retail industry in America behind the automotive and food retail industries.
According to National Leisure Travel Monitor, 95% of all active travelers took at least one vacation during the previous 12 months (on average, they took four) and 33% more people planned to take vacations in 2007 than in 2006.
Another reason for the changing trend in tourism:
Time poverty: Yes, time poverty is simply more time things to do and little time to do it. According to Expedia, Americans with an average of 12 vacations per year leave a total of 421 million days unused and 1/3 of those people did not take vacations at all in 2007.
Poor customer service in the travel industry is another reason for the decline in tourism. In April 2007, the DOT rate for complaints to U.S. Airways tripled each year from 2005 and the complaints from Delta doubled from 2006. The cruise industry faced similar problems but the numbers of complaints were not as many as in the airline or the bus industry.
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