Omnitrak's Travel Market Penetration Index provides early insight into the percentage of U.S. residents who travel each month, indexed to 2015. Data are reported on an ongoing basis, within one month following the close of the prior month.
HONOLULU, April 1, 2024 /PRNewswire-PRWeb/ -- Omnitrak's Travel Market Penetration Index provides early insight into the percentage of U.S. residents who travel each month, indexed to 2015. Data are reported on an ongoing basis, within one month following the close of the prior month.
- Overall travel demand sees usual seasonal pickup in February, rising above prior month January but falling short of February 2023 levels.
Overall travel demand experienced its usual seasonal pickup in February. Omnitrak's Travel Market Penetration Index rose in February to 78.9 (2015=100) – up from January (70.3), but down from prior year February 2023 (82.7) levels. - Compared seasonally, February travel penetration trails prior year levels.
Compared seasonally to historic February Travel Market Penetration Index levels, February 2024 indexed at 78.8 (2015=100) – the second lowest February on record, surpassing only February 2021 (65.7) and trailing February 2023 (82.5) as well. - U.S. Leisure Travel Index sees seasonal rise in February, and inches above February 2023 levels.
Parallel with seasonal changes in overall travel penetration, Omnitrak's Leisure Travel Index (which excludes trips for visiting friends/relatives and for business, incentive and convention purposes) climbed to 129.6 in February (i.e., above both prior month January (123.3) levels). However, the Leisure Travel Index also inched above prior year February 2023 (129.1) levels.
Why This Matters
High level, post-pandemic travel demand is downshifting to more moderate levels of growth as pent-up demand eases. However, U.S. travelers engaging in "marketable leisure trips" (e.g., outdoor recreation, sightseeing, cultural travel) continue to travel as the broader marketplace including visiting friends/relatives travel slows. Destination marketing targeting U.S. residents who prioritize travel to explore new places and visit iconic destinations/attractions will prove most effective in attracting visitors as competition heats up in 2024.
Here's Our Take
"The slight year-over-year gain in February speaks to the resilience of marketable leisure travel," said Chris Kam, Omnitrak President and COO. "While it's hardly the double-digit growth from the post-pandemic recovery, leisure travel remains on a solid footing with Spring Break and solar eclipse travelers taking off in March and April."
"January and February are typically the slowest travel months of the year, said Omnitrak Founder & CEO Pat Loui. "Travel in 2024 is off to a slow start due to lags in travelers visiting friends and relatives, though busier travel months are ahead."
Omnitrak founded in Honolulu, Hawaii in 1981, is a leading strategic research firm with a strong presence in the consumer, travel and retail sectors in North America and Asia. Omnitrak works with some of North America's largest state tourism offices, which subscribe to the company's TravelTrakAmerica™ tracking research, providing timely monthly insights from 12,000+ U.S. respondents. The company serves a broad array of public- and private-sector clients, helping to grow their markets with Quality of Place/City Pride and Community Sentiment research. Additionally, destination marketing to develop new products and increase brand loyalty is supported by Omnitrak's TravelTrak America syndicated research and Integrated Marketing Effectiveness insights. For more information, email: [email protected]
Media Contact
Cassie Kim, SDA International, 1 8089494131, [email protected]
SOURCE Omnitrak
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