You probably heard last week that prices fell for the first time from May to June 2024 0.1 percent, and while the price drop seems miniscule, it is having a positive impact. According to the US Travel Association (USTA), those falling prices are having an affect on travel-related goods and services too.
USTA President & CEO Geoff Freeman
According to the association’s Travel Price Index (TPI)—which is calculated by USTA—prices decreased 1.4 percent from the previous month, led by lower hotel, airline, and gas prices. This is likely already being felt throughout the US economy as the Transportation Safety Administration (TSA) noted that it screened the largest number of passengers over the July Fourth holiday weekend ever. On July 7 alone (Sunday), the TSA screened more than 3 million travels—setting a new record for the agency.
“Now is the time for the travel industry to boost volume,” said USTA President & CEO Geoff Freeman. “We’ve already seen travelers take advantage, with eight of the ten busiest days in TSA’s history occurring in 2024. It’s essential that the industry is equipped with the right funding, resources and technology—coupled with sustained government focus—to meet an increase in demand.”
Visit ustravel.org for more information.
[07.15.24]