The Consumer Sentiment Index for the U.S., published by the University of Michigan, dropped sharply in March to 57.9 from February's 64.7, marking its lowest level since November 2022.
The report, which was released Friday, indicates that sentiment has declined for a third consecutive month, with numerous consumers attributing this drop to uncertainty surrounding government policies and other economic factors.
Additionally, rapid shifts in economic policies have compounded difficulties for consumers in planning for the future, regardless of their policy preferences.
The report also highlighted key concerns contributing to the decline in sentiment, including ongoing tariff policies, a weakening stock market, and persistent inflation worries.
Media outlets, such as Reuters and The Wall Street Journal, also reaffirmed the report's findings.
US Consumer Sentiment Index plunges to lowest since November 2022
The U.S. travel sector is actively tapping into the growing demand for outbound tourism from China, introducing new products and initiatives to attract more Chinese travelers.
According to the China Tourism Academy, Chinese outbound trips reached 130 million in 2024, highlighting a strong recovery and potential in the market.
To capitalize on this opportunity, Visit California, a nonprofit organization dedicated to promoting California as a premier travel destination, has unveiled new plans for business expansion in 2025.
"This year we're investing 7.2 million [U.S.] dollars across various channels such as brand, PR, trade and partnerships. We've recently just invested over 10 billion dollars on product upgrades, new hotels, attractions, and other experiences, really trying to communicate the strong commitment we have to the market," said Caroline Beteta, the President and Chief Executive Officer of Visit California in an interview with China Media Group.
Beteta emphasized California's efforts to enhance accessibility for Chinese travelers, including increasing direct flights and trying to streamline visa procedures.
"We have some good news with United Airline's expanding from Beijing to LA in 2025. In addition to that, we're working with government and federal partners to help alleviate some of the visa challenges in the market," she said.
U.S. travel sector eyes opportunities in growing Chinese outbound tourism
