U.S. Domestic Business Travel Continues to Strengthen Amid Roaring Stock Market
Despite some fears to the contrary, international inbound travel to the U.S. posted strong growth in January 2017
Earlier in February, the U.S. Department of Commerce reported that travel exports increased in December 2016 for the sixth month in a row, after declining for much of the first half of the year, bringing international travels share of total U.S. exports to 11.2 percent. This is the sectors highest share of spending in the U.S. since 2000, just before the fallout from the September 11, 2001 attacks caused U.S. market share to plummet sharply among other global destinations.
Travel weathered an abundance of challenges and continued to grow throughout 2016, according to the U.S. Travel Associations latest Travel Trends Index (TTI). The final TTI based on 2016 data shows that travel to and within the U.S. grew 2.4 percent from December 2015, while the forecast component shows that travel will continue to expand at a moderate pace in the near term.
Marking its ninth increase in the past 12 months, the travel industry added 4,900 jobs in December, according to the U.S. Travel Associations analysis of Fridays Labor Department Employment report.