Dana Malcolm
Staff Writer
#TurksandCaicos, September 29, 2023 – The US is bracing for the beginning of the end of the post-pandemic travel boom while bringing in less money than they expected, after arguably one of the best summer travel seasons in years. Now, reports indicate US flight ticket prices are plunging as the Federal Reserve and top airlines predict a slowdown in travel this fall season.
Delta airlines, which saw record bookings in summer, hiked up its earnings forecast in July, expecting between $2.20 to $2.50 returns per share. Now as the fall season begins, it is backtracking on that, expecting to pull in less revenue.
American Airlines forecasts the same. 
Both companies are citing increased expenses that took a chomp out of profits, including higher fuel costs, according to a series of regulatory filings seen by our news team.
For Frontier, in their filing, it wasn’t just fuel but higher cancellations rates as well.
American media are reporting that Spirit, Southwest and Alaska Airlines are all predicting lower profits.
More concerning for international travel though, is a report from the Federal Reserve that Americans might be cooling down on luxury travel spending, the September 6th report said.
“Consumer spending on tourism was stronger than expected.” Despite this better than expected outcome, spending on tourism is slowing and projected to continue down that path.
Specifically, the Fed said tourism spending was, “surging during what most contacts considered the last stage of pent-up demand for leisure travel from the pandemic era.”
The report also expressed concern that more US consumers were turning to borrowing rather than savings, to augment their daily spending.
The lionshare of travellers to the Turks and Caicos visit from the United States. So far Tourism Officials are not weighing in on how these projections in the country’s leading source market may impact projections in the country.