We here at Cornerstone Information Systems have been working on a method to aggregate, anonymize, and distribute information about the health of the Travel Industry – gathered from all of the data that flows through our network every month. We feel that it is paramount that companies with data share our knowledge and the foresight it brings.
To facilitate that goal of data sharing, and yet also keep the data of our clients private, we have been working on the creation of a Cornerstone Index.
Here are the numbers regarding the November 2022 travel index:
|Avg Trip Spend||$1387.99||2%|
|Avg Air Spend||$667.90||2%|
|Avg Hotel Spend||$536.91||1%|
|Avg Car Rental Spend||$183.18||2%|
There was also a 2% Decrease in processed trips taken from October 2022 to November 2022.
** All currency is displayed in USD – the aggregates of our data have been converted into USD before being taken into account and calculating the Index numbers **
November 2022 Analysis
- This month may look a bit different from previous months as we are working hard on our data inclusions and anonymization so that we can roll out the next version of the Cornerstone Travel Index. The new travel index is shaping up nicely, so stay tuned to be the first to see all of the new features and categories!
- There was a 2% decrease in overall trips taken, but November solidly in the realm of the holiday travel season. That accounts for both the decrease in business travel as well as the costs. The costs did not change too much however, which is favorable for a good holiday season during the first real year of recovery.
Information on the Cornerstone Index:
Much like how the S&P 500 Index tells the health of the US Stock Market, the Cornerstone Index is meant to reflect the health of the travel industry according to the data that we have available to us.
Please note that we are performing adjustments and cleansing to ensure an accurate index. This means that during our development of the travel index, some values may fluctuate month to month in their calculations. However, we do not believe this offsets major travel trends.