A bumpy travel season for U.S. tourists, destinations [View all]
By Andrea Felsted / Bloomberg Opinion
The travel industry is experiencing a bout of turbulence.
Under pressure along multiple fronts, U.S. airlines and hotels are being buffeted the most. But given broader concerns over consumer confidence, as well as a slowdown in the market for pricy handbags and watches, European tour operators and those serving luxury travelers should buckle up too.
Donald Trump’s trade war is taking its toll on our wanderlust. Concerns about the climate for tourists led to an almost 10 percent drop in arrivals of non-U.S. citizens by plane in March (though this could also have been influenced by the timing of Easter, which fell in April this year). It’s true U.S. inbound tourism hadn’t fully bounced back after the pandemic, but the added weakness, especially from fewer Canadian travelers, has been unhelpful.
It’s not just the direct effects of the trade war and reports of tourists being held at the border. There are signs that recessionary fears are creeping in, while government cuts are hurting business travel. Future Partners, which polls 4,000 American leisure travelers each month, found that while sentiment toward vacations hasn’t fallen off, some consumers were starting to adapt their plans.
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