Travel ETFs Hold On To Strong YTD Returns - ETF Trends
Despite volatility and chaos in markets in March, travel ETFs have largely held onto their year-to-date gains. Travel ETFs have been supported by strong demand for leisure travel couples with higher prices. Despite recession fears ushering in concerns about consumer spending, U.S. airlines have largely been bullish about 2023 travel demand. Cruise operators including Carnival, Royal Caribbean Group, and Norwegian Cruise Lines Holdings have reported resilient demand from cooped-up consumers undeterred by elevated inflation as COVID-19 pandemic-related restrictions ease, Reuters reported. Quality screening across diversified global travel stocks has begun to separate the ALPS Global Travel Beneficiaries ETF (JRNY) from other travel-focused strategies. JRNY is outpacing its competitors and broader global markets year to date. “The consumer has been quite resilient and willing to spend for travel and leisure despite persistently high inflation,” Todd Rosenbluth, head of research at V