By Ion Jauregui – Analyst at ActivTrades
Booking Raises Its Voice
U.S. tourism is facing a concerning slowdown. Glenn Fogel, CEO of Booking Holdings (NASDAQ: BKNG), has warned that the United States is losing competitiveness as an international destination due to slow border control procedures.
Between January and July 2025, the country received 1.1 million fewer foreign visitors than in the same period of 2024, representing a 3.8% decline. July was even worse, with a 5.1% drop. This deterioration comes at a critical time, with major events such as the 2026 FIFA World Cup and the 2028 Olympic Games on the calendar.
President Trump’s plan adds tension: an increase in fees and the creation of a $250 “visa integrity fee,” supposedly refundable, though with no clear mechanism for reimbursement. Since the start of his second term, companies like Airbnb (NASDAQ: ABNB) and Expedia (NASDAQ: EXPE) have reported a drop in bookings to the U.S., while American travelers continue to prioritize Europe. Airbnb (ABNB) faces a critical support zone at $140, while Expedia (EXPE) is struggling to hold $110. Weak inbound travel flows to the U.S. could limit short-term upside potential for the sector.
Fundamental Analysis – “Direct Impact on the Tourism Engine”
Booking Holdings, valued at $176 billion, has identified the U.S. as its slowest-growing region over the last two quarters. Fogel’s warning is significant: the international travel market remains active, but is shifting toward destinations with faster entry processes and smoother arrival experiences.
The slowdown in tourism threatens not only booking platforms but the entire value chain: airlines, hotels, domestic transportation, and local businesses. If the country’s image suffers due to viral incidents of travelers being detained, the reputational damage could amplify the economic impact. In a global context of fierce competition for tourists, any additional barrier could result in a sustained loss of market share.
Technical Analysis and Conclusion – “Key Levels to Watch”
From a technical standpoint, Booking Holdings (BKNG) maintains a long-term uptrend, although in the last quarter it has shown a consolidation pattern above $5,430. Immediate support lies at $5,285, while key resistance is at the highs of $5,839.41.
A downside break could lead to increased selling pressure if tourism data fails to improve, with the potential to test the $5,205.09 area. Conversely, if tourism numbers recover, the stock could aim for $5,634.42, the upper bound of the current consolidation range. The point of control (POC) is much lower, around $4,699.80, indicating a polarized volume structure.
Indicators show the RSI at 40.42, suggesting near oversold conditions. The MACD remains in bearish territory, with the histogram still negative and showing no clear signs of a short-term trend reversal.
The U.S. Must Step Up Its Game
Tourism is a leading indicator of economic activity, and the United States, in a global race to attract visitors, cannot afford administrative barriers that discourage travel. Upcoming measures in visa policy and border flow management will be decisive. BKNG remains fundamentally strong, but its trajectory will depend on the sector’s ability to regain visitor traffic. Today, the international traveler is still traveling… but increasingly less to the United States.
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The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance and forecasting are not a synonym of a reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acting on the information provided does so at their own risk. Political risk is unpredictable. Central bank actions can vary. Platform tools do not guarantee success.
Booking Raises Its Voice
U.S. tourism is facing a concerning slowdown. Glenn Fogel, CEO of Booking Holdings (NASDAQ: BKNG), has warned that the United States is losing competitiveness as an international destination due to slow border control procedures.
Between January and July 2025, the country received 1.1 million fewer foreign visitors than in the same period of 2024, representing a 3.8% decline. July was even worse, with a 5.1% drop. This deterioration comes at a critical time, with major events such as the 2026 FIFA World Cup and the 2028 Olympic Games on the calendar.
President Trump’s plan adds tension: an increase in fees and the creation of a $250 “visa integrity fee,” supposedly refundable, though with no clear mechanism for reimbursement. Since the start of his second term, companies like Airbnb (NASDAQ: ABNB) and Expedia (NASDAQ: EXPE) have reported a drop in bookings to the U.S., while American travelers continue to prioritize Europe. Airbnb (ABNB) faces a critical support zone at $140, while Expedia (EXPE) is struggling to hold $110. Weak inbound travel flows to the U.S. could limit short-term upside potential for the sector.
Fundamental Analysis – “Direct Impact on the Tourism Engine”
Booking Holdings, valued at $176 billion, has identified the U.S. as its slowest-growing region over the last two quarters. Fogel’s warning is significant: the international travel market remains active, but is shifting toward destinations with faster entry processes and smoother arrival experiences.
The slowdown in tourism threatens not only booking platforms but the entire value chain: airlines, hotels, domestic transportation, and local businesses. If the country’s image suffers due to viral incidents of travelers being detained, the reputational damage could amplify the economic impact. In a global context of fierce competition for tourists, any additional barrier could result in a sustained loss of market share.
Technical Analysis and Conclusion – “Key Levels to Watch”
From a technical standpoint, Booking Holdings (BKNG) maintains a long-term uptrend, although in the last quarter it has shown a consolidation pattern above $5,430. Immediate support lies at $5,285, while key resistance is at the highs of $5,839.41.
A downside break could lead to increased selling pressure if tourism data fails to improve, with the potential to test the $5,205.09 area. Conversely, if tourism numbers recover, the stock could aim for $5,634.42, the upper bound of the current consolidation range. The point of control (POC) is much lower, around $4,699.80, indicating a polarized volume structure.
Indicators show the RSI at 40.42, suggesting near oversold conditions. The MACD remains in bearish territory, with the histogram still negative and showing no clear signs of a short-term trend reversal.
The U.S. Must Step Up Its Game
Tourism is a leading indicator of economic activity, and the United States, in a global race to attract visitors, cannot afford administrative barriers that discourage travel. Upcoming measures in visa policy and border flow management will be decisive. BKNG remains fundamentally strong, but its trajectory will depend on the sector’s ability to regain visitor traffic. Today, the international traveler is still traveling… but increasingly less to the United States.
*******************************************************************************************
The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance and forecasting are not a synonym of a reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acting on the information provided does so at their own risk. Political risk is unpredictable. Central bank actions can vary. Platform tools do not guarantee success.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.