【Epoch Times June 16, 2025】The US Bureau of Labor Statistics announced on Wednesday (June 11) that during the period from April to May, both airfare and hotel accommodation prices have seen a decline after seasonal adjustments.
Joan Bottarini, Chief Financial Officer of the hotel group Hyatt, stated last week that “uncertainty in the business environment has made guests more cautious in their spending.”
According to analysis by Bank of America on credit card and debit card spending, in the year leading up to May, consumers of all income levels in the US have reduced their expenditures on accommodations and flight bookings compared to the same period in 2024, squeezing vacation plans and delaying travel bookings as much as possible.
An analysis by TS Lombard of data from the Transportation Security Administration shows that in the past 90 days, the number of passengers passing through US airports has been lower than the same period last year, marking the first decline in air passenger traffic since the peak of the COVID-19 pandemic.
Meanwhile, the number of visitors from Canada and Europe has also sharply decreased. According to Statistics Canada, in May, the number of Canadian travelers to the US decreased by nearly a quarter compared to the same period in 2024. Data from the US International Trade Administration shows that as of April, the number of visitors from France and Germany (two major tourist markets on the European continent for the US) decreased by over 7% year-on-year.
Economists are concerned that the slowdown in travel demand is a signal that the resilience of US consumers is beginning to weaken.
Earlier, data released by the University of Michigan on May 30 indicated that consumer confidence in the US rebounded in late May, but the overall level remained historically low. With the US and China temporarily reducing tariffs for 90 days, public concerns about the economy have eased. The report also noted a decrease in long-term expectations for future inflation.
Joanne Hsu, Director of Consumer Surveys at the University of Michigan, stated, “The data shows that consumer confidence index declined in early May, but with the temporary suspension of tariffs on certain Chinese goods by the US, consumer confidence began to recover in late May.”
(This article references a report from the Financial Times)