Travel and the Economy: Navigating Chaos

Travel is one of the largest industries in the world, yet its economic significance is chronically underappreciated — by consumers, by policymakers, and even by the markets that price it. In the United States alone, domestic travel accounts for the vast majority of the industry’s GDP contribution — yet public discourse and government measurement almost exclusively focus on inbound international tourism. Meanwhile, the World Travel & Tourism Council estimates that travel and tourism repres...