U.S. Travel recently released the latest Travel Forecast Report, which provides background and analysis to updated projections, while highlighting the divergent paths of recovery among key travel sectors. The latest forecast presents a rosier picture of domestic leisure travel than earlier estimates but a still-gloomy—if not bleaker—picture of business travel and international inbound travel.
- Domestic leisure spending has already nearly recovered. It is estimated to have reached 92% of 2019 levels in Q2 of this year. The latest forecast projects that it will be 99% recovered (relative to 2019 levels) next year and 102% in 2023
- Domestic business travel spending is still lagging far behind leisure and is expected to reach just 43% of 2019 levels in 2021 and 71% of 2019 levels in 2022 before fully recovering in 2024
- International inbound travel is not expected to fully recover until 2024. International spending is projected to reach just 67% of 2019 levels in 2022 and 87% in 2023. International leisure travel is expected to recover slightly faster than international business travel
The forecast table is available publicly. The full report requires a U.S. Travel member login.