Travel spending has stayed higher than many economists feared because of higher inflation. But the trend points to more traditional travel spending patterns.

Americans no longer have excess savings for travel spending

New American banking data said households remain healthier than economists feared. 

Despite higher inflation, travel spending has continued to surprise.

The study includes travel spending held in checking and savings accounts across nine million travel-spending customers from January 2020 through March 2023.

Pre-COVID baselines as accumulated savings and government stimulus fueled the revenge travel wave and travel spending throughout 2022.

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The study suggests that travel spending will come to an end

Americans shouldn’t expect much more travel spending to fuel growth in 2024. The travel industry is on track for a  soft landing where the increase decelerates to a normal but doesn’t decrease.

American consumer remains healthier than many economists feared. That should be the way for leisure travel spending.

Banking balances are up, and disposable income is increasing. That shoe good news for the travel industry, and expect travel spending more from consumers.

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