Decline in Oil Prices Boosts Travel, Stimulates Investors

The Hilton Hotel in Arlington was recently sold to US OCG Inc.

ARLINGTON, TX—The US dollar’s strength recorded a 14-year high last year and the price of airline tickets has been steadily dropping. But it’s not just Americans who are taking advantage; worldwide, tourism is expected to increase by 3.3% a year between 2010 and 2030, according to Capital Brain.

A couple of other factors that helped influence travel trends include strong exchange rate fluctuations and a decline in the price of oil and other commodities. These forces can contribute to the hospitality industry’s increase in revenue from 2009 to 2015, GlobeSt.com learns. Moreover, the strength of the Dallas market is fueled by office relocations, millennial attraction to the diversified economy and low costs of doing business here. All of these factors make for a healthy travel market in DFW.