• International Travelers Could Return to the US in 2024   

Excerpt from CoStar

Lodging Analytics Research & Consulting is predicting a widescale rebound in inbound international travel based on a weakening U.S. dollar.

A strong U.S. dollar is one of the main reasons why many leisure travelers went overseas — particularly to European destinations — in 2023 without a corresponding influx of foreign inbound travelers, but Lodging Analytics Research & Consulting President and co-founder Ryan Meliker said that phenomenon is set-up to flip in 2023.

A weakening U.S. dollar and normalizing travel environment means major gateway cities across the country can expect to see more inbound international travel in 2024.

Speaking during a webinar, Meliker noted international inbound travel was still down 17.5% year to date through October compared to 2019 levels, but he believes international travel trends are a major reason to feel optimistic heading into the new year.

"Going forward, Moody's sees foreign exchange rates [are set] to decline, and that decline is going to persist through 2023. ... And when the dollar decreases in value, U.S. destinations become more affordable for foreign inbound travelers, and international destinations become more expensive for U.S. travelers," he said. "That is a tailwind for leisure travel, especially related to domestic travel."

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