The travel industry is benefitting from pent-up travel demand. Therefore, quality travel stocks Travel + Leisure Co. (TNL), Playa Hotels & Resorts N.V. (PLYA), and Bluegreen Vacations Holding Corporation (BVH) could be worth watching.
Despite the impact of inflation and growing living costs, it seems consumers are hesitant to make any cuts in their spending on travel. According to the World Travel and Tourism Council (WTTC) 2023 Economic Impact Research (EIR), the sector is expected to contribute $2.24 trillion to the US economy this year, exceeding the pre-pandemic record of $2.17 trillion in 2019.
