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PRICES FOR TRAVEL goods and services decreased by 1.4 percent in June for the second consecutive month, outpacing the overall economy's 0.1 percent decline, according to the latest Consumer Price Index data from the U.S. Travel Association. The Travel Price Index indicated that lower hotel, airline, and gas prices were the primary contributors to the sector's significant price reduction. In contrast, the broader economy experienced its first monthly price decline since 2020, USTA said in a statement. "Now is the time for the travel industry to boost volume," said Geoff Freeman, USTA's president and CEO. "We've already seen travelers take advantage, with eight of the 10 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."

AIR TRAVEL HASSLES lead fliers to skip an average of two trips annually, which will result in 27 million avoided trips and a $71 billion loss for the U.S. economy in the coming year, according to a recent report by U.S. Travel Association and Ipsos. The impact of traveler frustrations also leads to a loss of $4.5 billion in tax revenue. The federal government must prioritize improvements throughout the air travel ecosystem to foster greater growth, the association has said. "When almost 60 percent of recent air travelers equate the experience to or find it worse than going to the DMV, it's a worrisome sign that requires action," said Geoff Freeman, USTA president and CEO. "With targeted efforts, the federal government can certainly enhance the entire travel system." Half of travelers said they would increase air travel in the next six months if the experience were less of a hassle, the poll revealed. Similarly, business travelers would take an average of two more trips annually if travel frictions improved, resulting in 18 million additional trips and $52 billion in economic impact.