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Economy, Travel

America is hitting the road

Source: https://www.advan.us/blog.php

One year after the initial lockdowns and stay at home orders across the groble, Americans are now driving a lot more, as measured by our miles driven index. More specifically, the last three weeks Advan’s miles driven index captured an increase in traffic as high as 40% nationwide compared to the pre-pandemic levels in February 2020. As the vaccines are being rolled out people’s confidence is picking up and in combination with certain COVID-related restrictions being lifted and the advent of Spring and Spring breaks, everyone seems to be making up for lost travel.

The trend is the same across multiple states. Looking at the miles driven index for the heavily impacted New York, after the sharp drop in traffic down to -44% the first month into lockdowns back in April 2020, the traffic the last 3 weeks is up 24% compared to what it was pre-pandemic levels. Same pattern for Texas, one of the first states to lift almost all the COVID restrictions such as mask mandate, restaurant occupancy limits and others: the traffic is up 36% in the last 3 weeks. For California and Florida, the traffic is up 10% and 19% respectively year-over-year.

We looked at the Truck miles driven index and compared to car miles driven (Jan 7, 2020 is used here as the baseline date); shipments have remained mostly steady through the pandemic, these has not been additional capacity added, but there are no significant troughs either.

In Europe (including the UK), things are quite different as many countries enter a third wave of COVID infections and the lockdowns are being extended. In the UK and Spain, the traffic on the roads is over 60% down in the last 3 weeks compared to pre-pandemic levels. In Germany, after a busy summer with the traffic up 50%,during the last 3 weeks it dropped significantly to -46%.

It is also interesting to see what traffic at Tesla charging stations tells us. We see that traffic in charging stations materially lags total miles driven. Given that most Teslas have lower range and are used mostly for commuting, we surmise that a material portion of the added mileage is for longer trips.

To learn more about the data behind this article and what Advan has to offer, visit https://www.advan.us/.

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ForwardKeys

ForwardKeys is one of the leading travel analytics firms that provides investment firms with alternative and predictive data on the travel industry. Data is offered both on the demand and the offer-side of the aviation market.

Actual Air Reservations is an aggregation of flight bookings made via the Global Distribution Systems. Exclusive agreements make that global travel data is available, including regions that are generally difficult to track. This data contains valuable insights into the profile, behaviour, and impact of events on past, present and future air travellers.

Seat Capacity provides insights into the scheduled flights from 99% of global commercial airlines.

Financial institutions use this data for artificial intelligence and predictive models to forecast the performances of businesses. Combined, the datasets can provide insights into the financial health of businesses operating in the travel and tourism industry. This list contains companies like airlines, airplane leasing companies, oil companies, hotels and travel agencies.

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LET US HELP

Data is changing the speed of business. Investors, Corporations, and Governments are buying new, differentiated data to gain visibility make better decisions. Don't fall behind. Let us help.

DATA PROVIDER SPOTLIGHT

ForwardKeys

ForwardKeys is one of the leading travel analytics firms that provides investment firms with alternative and predictive data on the travel industry. Data is offered both on the demand and the offer-side of the aviation market.

Actual Air Reservations is an aggregation of flight bookings made via the Global Distribution Systems. Exclusive agreements make that global travel data is available, including regions that are generally difficult to track. This data contains valuable insights into the profile, behaviour, and impact of events on past, present and future air travellers.

Seat Capacity provides insights into the scheduled flights from 99% of global commercial airlines.

Financial institutions use this data for artificial intelligence and predictive models to forecast the performances of businesses. Combined, the datasets can provide insights into the financial health of businesses operating in the travel and tourism industry. This list contains companies like airlines, airplane leasing companies, oil companies, hotels and travel agencies.