If you want to know why domestic airfares have not risen appreciably or why hotels haven’t hiked their rates or why some airlines are suddenly making available more frequent flyer award seats, you can thank the law of supply and demand–especially the drop in demand.
While North America saw an overall rise in tourism numbers over the last 12 months, that increase happened in Canada and Mexico. But the U.S. numbers dropped. In fact, America’s share of global long haul travel fell. And there was a 5% drop in foreign arrivals. The U.S. is one of only two top global destinations to witness a decline in long haul arrivals. The other is Turkey.
Now, let’s get to the real numbers. We lost $32 billion in visitor spending, which means 100,000 fewer U.S. jobs. And who benefits from this? It’s not the travel industry but everyone else–anyone visiting the U.S–either foreign travelers or Americans rediscovering their own country this summer. There are more airline seats, more hotel rooms and even more rental cars at prices that aren’t spiking.
For more tips to help you travel this summer, check out: