U.S. travel demand declines due to economic concerns

Travel demand is slowing as Americans face economic anxiety, high prices, and rising household debt. Many consumers are shifting to more affordable, local trips instead of expensive destinations, leading to potential deals from airlines and hotels. Major airlines have reduced their booking projections, and the cruise industry has also seen a decline in bookings. Travelers are now more strategic about spending, often waiting to book trips until closer to their travel dates. Despite the slowdown, many Americans still plan to travel, but with a focus on value. This shift may lead to lower prices and better deals for consumers in the coming months.