Morning Business Report: This year’s top travel destinations and a forecast for the industry
The experts at the Family Vacation Guide compiled a list of top U.S. travel destinations for families. Florida dominated the list with three cities in the top five. Miami, Marco Island and Orlando all made it into the top five. Also in the top five, Boston and Aspen Colorado.
Americans have legally bet $220 billion on sports since 2018, according to the American Gaming Association. More than 30 states have legalized sports betting since the Supreme Court’s ruling in 2018.
Stocks were flat for Monday.
A pair of key inflation reports, due this week, kept betting investors on the sidelines.
It’s getting harder to get a loan. Rising interest rates alongside bank turmoil have forced many banks to pull back their lending. This will affect both consumers and business owners. For businesses, tighter lending will make expanding more difficult. Meanwhile, consumers will have a harder time buying homes and cars.
The World Travel and Tourism Council has a prediction. They say the global travel and tourism sector won’t fully recover this year, but it will get close. The sector is expected to reach $9.5 trillion in 2023, just five percent shy of 2019. Countries leading the charge include the U.S. And Dominican Republic.
