Latest news with #travelspending
Skift
30-05-2025
- Business
- Skift
Summer Travel's Winners: Japan, Live Tourism, and Biz Travel
Despite talk of financial pressure, many are continuing to spend on summer travel. Many people plan to continue spending on travel this summer, even though some say they have concerns about affordability. That's the message from this month's wave of summer travel forecasts from travel brands and data providers – we reviewed 11 forecasts in all. Japan is leading with trending international destinations. Tokyo, followed closely by Osaka, gained the most share of overall international flight bookings versus last year, according to the Mastercard Economics Institute. Paris came in third. Vacationers say they are thinking carefully about their travel spending this summer, but some business travelers are hitting the road more often. More than half of travelers expect to be more price-conscious, with inflation the number one reason affecting travel decisions, according to a Wakefield Research poll of 11,000 consumers in 11 countries that was sponsored by Expedia. Global business travel continues to improve. Navan's data revealed business travel bookings for summer 2025 are strong, with flights booked through its travel management software up 10% year-over-year and up 25% year-over-year. U.S. Inbound Travel Uncertainty The U.S. domestic outlook is relatively strong. But the World Travel & Tourism Council (WTTC) warned that the U.S. could lose $12.5 billion in international visitor spending this year. According to its study, the U.S. is the only country among 184 economies analyzed which is forecast to see international visitor spending decline in 2025. However, it is still too early to have hard data confirming a year-over-year drop in overall inbound international tourism. Skift Research recently wrote that "U.S. tourism would be damaged but continue to expand" if President Trump continued to target allies - and potential international visitors. It estimated that the U.S. travel sector might see a shortfall based on previous projected income in the magnitude of between $30 billion and $90 billion for the year. Some companies predict travel demand will be about the same as last year, yet their surveys also suggest widespread financial anxiety. About 70% of Americans said they planned summer travel in a survey done by Bank of America. Nearly 70% of Americans said they didn't feel confident about vacationing due to money concerns, in a survey by Ipsos sponsored by Allianz Partners, a travel insurance provider. Reality check: Both can't be fully accurate. However, a few emerging trends in types of trips are suggestive of how the summer may unfold. Events and Experiences Prioritized Americans are traveling for ticketed events, with at least one planned for this year among 63% of Americans, Allianz data showed. Mastercard's data also found that sports and meaningful experiences are big drivers. Major events happening this summer include FIFA Club World Cup, a tournament of the top 32 teams around the globe competing in the U.S. starting June 15. Lollapalooza, one of the most popular U.S. music festivals, with 400,000 attendees, is also this summer. In the UK, there is one of Europe's top three music festivals, Glastonbury which about 210,000 people attend. Priceline cited the Red Rocks Summer Concert Series in Denver and San Francisco's festival season – including August's Outside Lands Festival – as two of the top three most-searched events. For context, see Skift's megatrend 2025 Is the Year Live Tourism Becomes Unstoppable. Shifts in the Mix of Trips? Bank of America's research shows income is determining destination choices. Lower-income travelers increasingly stay domestic with road trips preferred, while middle and higher-income travelers are more likely to venture internationally. Trips lasting only one or two nights are a continuing trend. A Deloitte survey found that 41% of vacationers plan to take a trip of three nights or fewer this year, compared with 37% last year. Campspot, a booking platform for campgrounds, said more than 90% of travelers are planning short pop-up escapes (1–3 nights, budget-friendly, within 200 miles) and that about half of them are planning more short trips than in previous years.
Bloomberg
29-05-2025
- Business
- Bloomberg
Consumer Weakness Starting to Hit Travel, MoneyGram CEO Warns
The CEO of the international money transfer firm MoneyGram says the consumer is starting to feel stressed, especially when it comes to travel spending. Bloomberg's Sonali Basak caught up with Anthony Soohoo, the CEO of the company at the Goldman Sachs Leveraged Finance Conference in California. They talked about the impact of tariffs and when MoneyGram might go public again. (Source: Bloomberg)
TTG
20-05-2025
- Business
- TTG
Travel Counsellors, A&K and Small Luxury Hotels chiefs to join first luxury-focused TTG/PWC Agenda panel
During the Agenda summer briefing, Eleanor Scott, partner, Strategy&, part of the PwC network, will reveal exclusive need-to-know findings on how luxury consumers are prioritising their 2025 travel spending. This will be followed by the industry leaders panel with Charlton, Hughes and Hyde and moderated by TTG Luxury's editor and publisher April Hutchinson. The panel will dissect the data and what it means for luxury travel advisors and operators, as well as sharing trends among their own customers' travel habits. Event attendees will also gain access to TTG's second Agenda report of the year, in association with PwC, this time focusing on this crucial luxury travel landscape and what's driving consumers to spend on premium travel. Please note, places at this breakfast briefing are limited. If you would like to register to attend, please apply below – a member of the TTG team will be in touch to confirm your spot closer to the time should you be successful.
Times
13-05-2025
- Business
- Times
Foreign tourists scared away as US ‘puts up closed sign'
The United States is expected to lose $12.5 billion in international travel spending by the end of the year, according to a report. Analysts said foreign holidaymakers felt discouraged from visiting America, the most powerful travel economy in the world, because of the heated political climate. Reports of tourists being stopped at the border, visa detentions, a tariff war waged by the Trump administration and a higher exchange rate were factors in a decline in spending by international travellers, said the World Travel and Tourism Council (WTTC). It estimated that foreign tourists would spend $169 billion on holidays to the US this year, down 7 per cent from $181 billion last year and 22 per cent from the peak before the pandemic. 'While other
The Independent
13-05-2025
- The Independent
Three reasons tourists are cancelling their trips to the US
International travel spending in the US is projected to drop by 7 per cent or $12.5 billion in 2025, according to the World Travel and Tourism Council (WTTC). Unpopular Trump administration policies, border crossing anxieties, and an unfavourable exchange rate are cited as key factors deterring international tourists. The US is the only one of 184 countries experiencing a decline in international visitor spending. While domestic tourism accounts for 90 per cent of US travel spending, international visitors, especially Canadians, significantly outspend American travellers. Travel from Canada and Mexico, major sources of inbound tourism, has decreased by approximately 20 per cent year-over-year.
