U.S. consumers’ so-called post-pandemic “revenge spending” seems to be on its way out alongside summer, leaving the tourism industry in a lurch in the wake of its retribution.
According to new data from the U.S. Federal Reserve, U.S. tourism has seemingly peaked and slowed nationwide, signaling an incoming drawback on consumer spending.
Likewise, financial giant Morgan Stanley has predicted a “hangover effect on consumption,” which is set to trickle down into consumer spending on leisure experiences such as travel.
As the heat of the summer months dwindles away, U.S. consumer’s anticipated spending pullback challenges the notion that revenge is a dish best served cold.
