JPMorgan CEO Jamie Dimon released his annual letter to shareholders on Monday. As always, this is a comprehensive macro briefing on the state of the business. For travel executives, eight points stand out.
Consumer attitudes soften
Dimon began by noting that the U.S. economy remains resilient, but consumer spending has shown “some recent weakness.” Leisure demand – especially in the mid-market – is very sensitive to pressures on household budgets. Affluent travelers will continue to fly business class. This is the part where the family decides whether a week at the beach or a staycation is worth watching.
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