Domestic business travel in the US rebounded in July, according to latest statistics from the US Travel Association (USTA).
The USTA's Current Travel Index (CTI) measures monthly travel volumes in the US, including both domestic and international inbound travel. A score over 50 indicates an expansion in travel relative to the same month the prior year.
In June, the statistics had shown a modest decline (-0.2%) in business travel compared with the same month in 2018. In July, domestic business travel had grown by 2.2%.
Our chart this week shows how the USTA's current travel index has changed over the past year.
Source: US Travel Association
The association also publishes a forecast for the coming six months, known as the Leading Travel Index. The LTI shows that business travel is expected to be higher than in 2018 but only modestly so.
The association said, "Business investments are projected to cool and weigh upon the domestic travel market through the end of 2019. New, enduring or escalating trade conflicts pose additional downside risks, and contribute to tepid growth prospects in 2019."
Adam Sacks, president of Oxford Economic' tourism economics group, which helps compile the statistics, says, "Accommodative Fed policy and fundamental economic resilience in the form of confident consumers and a tight labor market continue to support the view that U.S. economic moderation will be gradual. However, the persistence of international trade and domestic policy uncertainty alongside the introduction of new sources of tension will test the economy's resolve. In turn, we anticipate that travel demand will soften in the coming months."
The statistics will make interesting reading for UK policymakers as well as those working in business travel. If the UK eventually does managed to go through with Brexit, the figures indicate that an protectionist policy on trade is likely to dampen domestic demand for business travel.