Record July 4 travel spike expected due to increased disposable income, strong labor market

From Nasdaq: 2024-07-03 14:45:00

A record spike in U.S. travel is expected over the Independence Day holiday due to increased disposable income, a strong labor market, and remote working flexibility. SkyWest, Inc. (SKYW), Royal Caribbean Cruises Ltd. (RCL), and Hilton Worldwide Holdings Inc. (HLT) are primed for gains as travel demand rises.

A projected 70.9 million travelers are expected during the Independence Day holiday period, an increase of 5% from last year and 8% over 2019. Road travel is anticipated to surpass pre-pandemic numbers, with 60.6 million travelers hitting the road and 5.74 million flying to their destinations, a 7% jump from last year.

Cheaper domestic airfare is enticing air travelers, with a record number of passengers expected to fly this summer. SkyWest, Royal Caribbean Cruises, and Hilton are set to benefit from the surge in travel, with shares of these companies already climbing this year. Disposable income and robust labor market conditions are driving the increased travel trend.



Read more at Nasdaq: Record July 4 Travel May See Stock Gains for SKYW, RCL, HLT