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According to the latest Travel Trends Index from the U.S. Travel Association and Oxford Economics, domestic business travel demand dropped in October year over year. That downward trend is expected to continue in the next few months.
International inbound travel grew in October, but only slightly. The report said the number of visitors from other countries is expected to drop over the next several months as the strong dollar keeps the United States an expensive proposition for many foreign travelers.
“Given the expected stagnation in both international inbound and domestic business travel, continued growth in domestic leisure travel will remain the key to fueling the U.S. travel industry in the months ahead,” David Huether, U.S. Travel Association senior vice president for research, said in a statement. “The relative strength of domestic leisure travel will likely be further highlighted as holiday travel numbers are reflected in the coming months’ readings.”
The report, released Tuesday, says “a restrained outlook for business investment” still weighs on the outlook for business travel within the country. Domestic business travel had grown faster than leisure travel in September, but that was likely just due to the impact of Rosh Hashanah and Yom Kippur falling in October this year.
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