Statistics compiled by the Orlando International Airport (OIA) show that April, 2009 year-over-year air travel to Orlando Fl dropped 7%. An increase of international seat capacity of 10% helped offset this net decline in overall air travel volume.
This is not surprising, but this domestic number is especially weak considering that mid-year 2008 was a period of escalating air travel pricing. The OIA also noted that April, 2009 was a period for air travel volume over three million passengers, the first of that magnitude in nine months.
The next several months should be superficially good year-over-year travel comparisons. The petroleum and jet fuel commodities bubble pricing began in mid-year 2008 with subsequent traffic falling dramatically afterwards.
On this blog, we have been emphasizing the importance of the international market to the Orlando villa rental market from inception. Spending by international travelers is projected to be close to $10 billion annually with resulting tax receipts over $1 billion.
Continued expansion of international air capacity at OIA will undoubtedly help Orlando villa owners and rentals longer term because this group tends to disproportionately patronize these accommodations.