Skift Research Take
There is room for optimism heading into 2018 for the global travel industry. Emerging and developing markets are showing healthy signs of growth, and global consumer and business confidence is high. Policy uncertainty and geopolitical tensions can’t be ignored, but outside of any major shock, we expect travel to benefit from a solid year of macroeconomic growth in 2018.
In this report, Skift Research provides its economic outlook for 2018 and what that means for the global travel industry by detailing key economic trends in the U.S. and globally. Almost 10 years after the financial crisis, the recovery has been slow and often uncertain and tumultuous. However, with the majority of indicators today looking quite positive, we believe we are finally on a solid growth trajectory into 2018. The International Monetary Fund (IMF) recently raised its forecast for 2018 with more growth expected in emerging and developing markets, where income levels are rising, technology is increasing, and trade is liberalizing. In the U.S., the consumer looks strong with consumer confidence at an all-time high, low unemployment, solid jobs growth, and sustained low interest rates, and potential corporate tax cuts should encourage businesses to invest more, employ more, and travel more. Most signs suggest there is room for optimism and that 2018 is setting up to be another solid year of macroeconomic growth.
The report will provide readers with some key economic data points that are top of mind for Skift Research as we head into 2018 and should help frame decision making and provide context for company, sector, and unique industry trends. We provide market sizing data for the tourism and travel industry today, detail global growth expectations, and provide forecasts for the hotel, airline, and cruise industries. We are keenly aware of the potential risk of negative geopolitical events that could take a toll on travel spend next year, but outside of any major shock, the overall outlook for 2018 seems solid.
What You'll Learn From This Report
- Sizing data for the tourism and travel industry today
- Global economic growth forecasts
- U.S. consumer and corporate economic expectations
- International economic trends for key regions and countries
- A discussion of U.S. and global policy uncertainty
- Business travel spend expectations
- Sales, earnings, and key metrics growth estimates for the hotel, airline, and cruise industries
- Key items of focus that could positively and negatively impact economic growth in 2018
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