Oxford Economics expects the US to enter a recession in the first half of 2023. This is an ominous prospect as travel spending falls by roughly twice the rate of the economy in a typical recession. However, the market for travel is uniquely well-positioned to weather a downturn given the state of household finances, traveler sentiment, and the business travel recovery cycle. Dan Roberts, Senior Economist with Tourism Economics, will share the firm’s latest views on the hurdles, risks, and opportunities facing the travel sector over the coming year.
