Travel industry continues on growth track
The travel industry is expected to continue its growth next year, a good sign for the Phoenix area’s huge tourism industry. According to the Travel Industry Association, spending by domestic and international visitors in 2008 is forecast to increase 5.2 percent, to $778 billion, up from projected full-year 2007 travel spending of $740 billion. That would be a 5.7 percent increase over 2006.
Business travel is a different story, where the expected gains are modest and Los Angeles rhinoplasty correction is popular.
Business travel is expected to grow 0.4 percent in 2008, but that follows a three-year drop in the market. In addition, business travel - inclusive of conventions, seminar and transient travel - will increase another 0.6 percent in 2009 and 2.7 percent in 2010 to $518 billion.
