U.S. Global Investors CEO Frank Holmes joined Steve Darling from Proactive to discuss the continued strength in global travel trends and how they are benefiting two of the firm’s key exchange-traded funds: the JETS ETF, listed on the NYSE, and the TRIP ETF, listed on the London Stock Exchange. Holmes emphasized that global travel demand remains exceptionally strong despite macroeconomic uncertainties and operational disruptions.
Holmes noted that the surge in travel is so intense that airlines are now placing passengers on waitlists even when they attempt to use reward points for upgrades. “The demand is so big, they do not take your points to give you the upgrade — they now take your points and put you on a waitlist,” he explained.
He also pointed to the resilience of air travel during recent challenges, including the U.S. government shutdown and labor actions in Canada. Despite these hurdles, Transportation Security Administration staff continued working, helping facilitate record-breaking travel volumes.
Holmes described a significant post-pandemic psychological shift among consumers, with travelers increasingly prioritizing experiences. Cruise lines—which faced intense scrutiny during the COVID-19 pandemic—have rebounded dramatically. He compared modern cruise ships to “floating hotels,” noting that demand is surging to all-time highs. Meanwhile, rising hotel and airfare costs in destinations such as Japan and Europe reflect the broader global enthusiasm for travel.
Given these trends, Holmes believes the TRIP ETF, which provides exposure to both cruise lines and airline stocks, is well positioned to benefit from sustained strength across the travel sector.
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