Key Travel Indicators
Industry Barometer
With Memorial Day just past, it is starting to feel like summer. After what felt like a long winter, I am looking forward to getting out and visiting some of Indiana’s great destinations. I am sure I am not alone! Based on the current indicators, we continue to show conditions for strong growth for tourism in the coming months. As I’ve mentioned before, while gas prices are starting to creep up, the broader economy remains strong and confidence is high. Several organizations are predicting record travel across the US this summer and Indiana is well positioned to benefit from the rising market.
I look forward to seeing you out and about in Indiana this summer!
Safe travels!
Dr. Jonathon Day
Purdue Hospitality and Tourism Research Center
Industry Sentiment As of Spring 2018 (March-May)
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Right Now
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Next Quarter
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Upcoming 12 Months
Economic Indicators
INDIANA LEADING
ECONOMIC INDICATORS
March 2019
0.5
GAS PRICES
(Avg. price per gallon)
May 2018 $2.87
May 2019 $2.79
Industry Sectors
HOTELS
Occupancy Rate
April 2018: 62.6%
April 2019: 61.4%
Revenue per Available Room (RevPAR)
April 2018: $64.44
April 2019: $63.74
AIR TRAFFIC
Domestic Passengers
March 2018: 839,762
March 2019: 871,941
International Passengers
March 2018: 8424
March 2019: 8188
Market Intelligence and Insights
A selection of recent marketing intelligence from around the industry…
In March, the latest data available, the US Travel Leading Travel Index (LTI) continues to predict growth in domestic leisure travel in the US through the Fall of 2019. Detail for the January report can be found here.
Americans love to hit the road and travel. A recent study shows nearly three out of 4 Americans prefer to drive over flying. That’s good news for Indiana as we rely heavily on the drive market. For details of the study, click here
Projections for summer travel are up significantly from last year. A Discover survey found 71% of consumers are planning to travel this summer, up from 51% last year. For details click here
Google is a major player in tourism marketing. Google’s new travel tools are worth a look – they are sure to impact the market. Click here and here
On a final note - we are always watching the horizon for change in the tourism industry. Here’s an interesting report that looks at the drivers of change in hospitality. The report looks at changing room needs, tech-augmented hospitality and achieving cult status at scale. For details – click here