Americans’ spending on international trips has underpinned overall travel strength.
Declining prices for international airfare has helped underpin the trend.zeal for international trips"A key part of travel momentum lies within vacationing abroad," Taylor Bowley and Joe Wadford, economists at the Bank of America Institute, wrote in a
Demand for international travel surged over the past two years as Covid-19-related health fears waned and countries began dropping their pandemic-era travel restrictions. European fares in 2022 were the highest on record, according to Hopper data, which goes back a decade. However, Asia has been the fastest-growing region: Spending on the continent jumped 11% relative to 2023, compared to 3% in Europe, Bank of America said.While international travel spending remains robust, most Americans are still vacationing domestically: About 68% of all trips that start in the U.S.
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