UBS analysts report U.S. consumers continue planning travel despite moderating trends. Leisure-travel intentions fell 30 basis points year-over-year to 82.8%, while business intentions declined to 32.6% from 35% in March 2025. Both categories remain above two-year prior levels.

The survey reveals spending intentions suggest optimism among travelers. More consumers expect to increase travel expenditures in the next 12 months than reduce them, contrasting with earlier pandemic-era behavior. This data comes from UBS Evidence Lab surveys conducted in March and early April.

The findings matter for airlines and transport companies planning capacity and pricing strategies. While growth may slow from recent peaks, the underlying demand trajectory remains positive, particularly for leisure markets that have recovered more strongly than business segments.