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2024 Economic Impact of Travel

Travel Indicators Summary

In February, inflation remained stable at 2.4%, while the labor market softened, with the economy losing 92,000 jobs. Gas prices edged higher in California and nationwide.
Travel remained a priority for Americans through the first two months of 2026, with financial sentiment stabilizing and travel intentions holding firm. Despite cautious optimism, rising travel budgets and excitement indicators signal continued demand through the year.
California’s lodging industry delivered strong performance, with record hotel revenues of $2.2B (+16% year over year), supported by the Super Bowl in the Bay Area and a favorable holiday calendar. Group demand also saw notable growth.
International airlift from priority markets declined slightly (-1.1%), driven by reduced capacity from Canada. However, total international arrivals increased (+2.7%), led by strong growth from Mexico and China (the latter influenced by Lunar New Year timing), while Canadian arrivals declined further.

Source: Visit California and third-party data sets