Record Number of Americans to Travel Abroad

 

In economics, there are lead indicators and lag indicators. But often, the coincident indicators–stats that show the current state of the U.S. economy–tell the best stories.

The Conference Board reports that a record-high number of U.S. consumers are preparing to vacation to a foreign country within the next six months. That’s an all-time high for a stat kept since 1967. Only a strong, confident consumer tends to make such ambitious travel preparations!

Financial headlines have warned about growing consumer credit card balances. You may have also seen concerns that U.S. consumers may not be as resilient in 2024. Since consumer spending is about 70 percent of gross domestic product, you can see why those headlines can be concerning.

If your household is like mine, you tend to save and prepare before taking vacations. They create family memories that just can’t be replaced. It is encouraging that 22 percent of U.S. consumers are ready to travel abroad. It connotes that those households have been good stewards of their personal finances in recent years, and they are confident about exploring the world. Follow us for more tips to secure your financial wellness.

CITATION:

1. Picture used courtesy of Freepik

We may be reached at 800-916-9860

www.wenadvisory.com

This material does not necessarily represent the views of the presenting party, nor their affiliates. All information is believed to be from reliable sources; however we make no representation as to its completeness or accuracy. Please note - investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.