A whopping 26 million Americans have applied for the student loan debt forgiveness benefit.
In a recent poll, up to 73% of those who have signed on to receive the benefit have stated an intention to utilize a portion of the proceeds towards travel, rather than for savings or net debt reduction. In other words, the majority of those who will benefit from a reduced principal balance intend to lever themselves up again.
The mechanics of the student loan forgiveness program don’t provide cash disbursements; rather, a reduced outstanding balance will be the end result, resulting in as much as $300 monthly saved on outstanding student debt loan repayments. This reduced payment schedule permits those with credit cards to charge their Visa or Mastercard up accordingly and use the funds for travel to their favorite vacation hot spot.
For Americans, the Mexican Pacific Coast and the Mayan Riviera represent the two most heavily visited destinations outside of the United States. Mexico was also the second most visited country in the world in 2021, according to the World Tourism Organization. Differing from the United States, which holds down the top spot, Mexico features publicly traded airports. In 2021, Cancun International Airport broke into the top 10 airports globally based upon international passenger count and more than 66% of total flights into Cancun arrive from the United States.
In other news, ASUR reports that October 2022 international travel throughput at their Mexican airports is up by a brisk 17.9% as compared to the same month of 2019.
Pacific Airports reports that international traffic for October 2022 up by 24.9% vs October 2019.