TIA Forecasts Solid Growth In Winter Travel
"Increased economic activity and a rise in consumer confidence are paving the way to a strong winter travel season. Travel and tourismís recovery has been uneven this year, but the solid growth forecast for business and leisure travel is a positive sign as we enter 2004," remarked Dr. Suzanne Cook, senior vice president for research for the Travel Industry Association of America.
A noticeable increase in business travel volume (3.7%) contributed to the growth in overall travel volume for the winter 2003-2004 season. Americans are expected to take more than 31 million business trips this winter season. The increases in business travel come against a backdrop of steady annual declines since 1999 that have left the business travel sector severely depressed.
Travel remains high on Americansí activity list, with leisure travel expected to grow by 2 percent this winter season. Americans are expected to take nearly 164 million leisure person-trips in winter 2003-2004. This is the first increase after the surge in winter leisure travel following the attacks of 9/11, when Americans felt a strong desire to be with family and friends.
NOTE: The results of TIAís Winter 2003-2004 Travelometer are based on TIAís seasonal travel forecasting model developed in partnership with Global Insight, Inc.
TIA is the national, non-profit organization representing all components of the $529 billion travel industry. TIA's mission is to represent the whole of the U.S. travel industry to promote and facilitate increased travel to and within the United States.
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