Domestic U.S. business travel grew 3 percent year over year in February, according to the U.S. Travel Association's Travel Trends Index. That year-over-year growth outpaced domestic leisure's 2.6 percent growth for the first time since October, due to weakening vacation travel plans and slowing consumer spending and business investment. Total domestic travel rose 2.8 percent year over year in February. From March through August, it's projected to grow 1.8 percent year over year as consumer spending and business investment continue to moderate.
International inbound travel to the U.S. expanded 1.4 percent year over year in February, constrained by cooling global economic growth and trade activity. USTA expects it to grow just 1.8 percent year over year from March through August.
"Growth is expected to decelerate in the case of domestic travel while international inbound travel is projected to remain soft. This is consistent with an expectation of stable-yet-moderating economic growth both in the U.S. and globally," said USTA SVP of research David Huether.Total U.S. travel volume expanded 2.6 percent year over year in February, and USTA expects it to grow 1.8 percent from March through August.
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