Key Travel Indicators
Industry Barometer
Happy New Year!
It is hard to believe that 2019 is already a month old. As noted last month, the indicators for the coming year remain positive. Indiana Business Report projects economic growth of over 3% next year. Gas prices have dropped back down and key sectors of the industry, including lodging and aviation are performing positively.
It has been a cold start to the year and I am still shaking off the effects of the polar vortex this. Still, the weather will soon be warming, so make sure you take a moment to get out and enjoy the winter in Indiana.
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
October 2018
0.69
GAS PRICES
(Avg. price per gallon)
January 2018 $2.57
January 2019 $2.09
Industry Sectors
HOTELS
Occupancy Rate
December 2017: 46.6%
December 2018: 46.2%
Revenue per Available Room (RevPAR)
December 2017: $42.48
December 2018: $42.72
AIR TRAFFIC
Domestic Passengers
October 2017: 799,964
October 2018: 840,111
International Passengers
October 2017: 6,313
October 2018: 12,483
Market Intelligence and Insights
A selection of recent marketing intelligence from around the industry…
In November, the US travel market recorded its 107 months of growth. The US Travel Leading Travel Index (LTI) continues to predict growth in domestic leisure travel in the US through the first months of 2019. Detail for the November report can be found here.
As we start 2019, there are definitely mixed messages around future growth prospects. While US Travel remains positive (see above) and travel agents are optimistic , the Destination Analysts study of American Traveler Sentiment suggests a softening in the leisure market in the months to come. For details – click here.
We are looking for tools to simplify digital marketing. Click here for 7 tools to simplify Digital Marketing in 2019.
The Skift Travel Megatrend report has become a “must read” for tourism marketers. Trends identified for 2019 include: the shift from destination marketing to destination management, undertourism, wellness, and real-world experiences in an age of tech burnout. For a copy of the report – click here