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 Leisure
travel continues to lead the recovery of the travel and tourism
industry, as evidenced by a nearly two percent increase in leisure
travel volume for the first six months of 2002 over the same period
last year, according to new data from the Travel Industry Association
of America (TIA). With the economy recovering slower than expected,
business travel is faring far worse, dropping nearly 9 percent
for January-June 2002, continuing a three-year decline in business
travel volume.
TIA’s
data also confirms that consumers are driving more when taking
a vacation this year. Auto travel, which is primarily for leisure,
increased more than three percent for the first half of 2002,
compared to the first half of 2001. Air travel continues to be
depressed, seeing over a 10 percent decline during January-June
2002 compared to the same timeframe last year.
While
final data on the 2002 summer travel season is not yet available,
every indication points to a relatively strong season for leisure
travel. In fact, leisure travel volume for June 2002 was up nearly
4.5 percent compared to June 2001.
“Based
on the strength of these new numbers, we have every reason to
believe that the summer travel season was on-par with our earlier
predictions in May of a 2 percent increase in summer travel volume,”
remarked Dr. Suzanne Cook, senior vice president of research for
the Travel Industry Association of America. “However, travelers
are continuing to spend less money on travel, as concerns about
personal finances have consumers taking more economical vacations.”
TIA
will announce its revised annual travel forecast for this year
and 2003 at the TIA Marketing Outlook Forum in Hollywood, Florida
from October 9–12, 2002.
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