EconomyMay 28, 2024
2.951M Travelers Took Flight on the Busiest Travel Day Ever In US History
Aviation Boom
Victor Lei
That’s almost 1% of the US population flying in a single day. Last Friday, the TSA screened the highest number of travelers ever, supporting analysts’ predictions that 2024 would set new travel records. But this year, it’s all about international travel.
- United Airlines reported up to a 45% increase in demand for flights to European cities hosting Taylor Swift concerts, and Delta also noted its “largest-ever international summer schedule,” with an “increase in flying to Europe around her tour.”
- During their earnings call this month, Airbnb said it expects growth to accelerate on stronger international travel demand from the 2024 Paris Olympics and 2024 Euro Cup.
We have liftoff: Travel is projected to add $11.1T to the global economy this year, surpassing the previous record of $10T in 2019. A significant boost comes from the rebound of Chinese visitors after travel restrictions were lifted in early 2023. A Dragon Tail survey found that only 10% of Chinese travelers don’t plan to go abroad — down from more than 50% a year ago.
