The travel industry is in the midst of another hot summer as Americans hit the road and make for the airport to take advantage of slightly cheaper flights and gas.
But the 2024 vacation outlook isn’t all sunny: Like the rest of the American consumer experience this year, it is sharply divided.
Many richer consumers — always the lifeblood of the travel industry — are feeling good this year as a strong stock market and rising home values boost their wealth.
The gulf between higher- and lower-income consumers has been widening for years, but it is expected to show up especially clearly in travel this summer.
Budget hotel chains, by contrast, are expected to report a pullback.
Organizations:
Foods, Walmart, Budget