The Travel Industry Association of America (TIA) is predicting that 2002 will mark the fourth straight year of decline in…
The Travel Industry Association of America (TIA) is predicting that 2002 will mark the fourth straight year of decline in business travel volume. Leisure travel will fare much better, as TIA predicts an increase in this segment.
Although business travel is forecasted to increase slightly in the fourth quarter of 2002, compared to the same period in 2001, this is not surprising considering the September 11, 2001 terrorist attacks. However, TIA is forecasting that business travel volume for full-year 2002 will be 4.3 percent lower than full-year 2001.
TIA forecasts that leisure travel volume for 2002 will increase 2 percent over 2001. Total travel volume-including both business and leisure travel-is forecasted to increase less than one percent for full-year 2002.
The 2002 forecast, originally released last October, is consistent with actual travel performance through the first three quarters of 2002, as measured by TIA`s ongoing monthly TravelScope survey. Through the third quarter of 2002, compared to the first three quarters of 2001, business travel volume declined 6.4 percent and leisure travel volume increased 1.9 percent.
Through TravelScope, 25,000 U.S. households are surveyed every month about their travel behavior.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
