The Travel Industry Association has released its annual travel forecast, indicating the current uncertain economic climate will have a negative impact on business and international travel.

In a nutshell, leisure travel is expected to remain stable, business travel is in a decline and international arrivals will be hit hard.

Seven out of 10 leisure travelers said they expected to take an overnight trip of 50 miles or more from home during the next six months. And nearly half (48 percent) said they planned no change to their future travel plans.

Leisure travelers did say they would be shopping for the best deals and packages, and may be staying fewer nights and spending less on food and entertainment while on the road.

The outlook for business travel was dimmer, with a 3.7 percent decline this year and another 2.7 forecasted for 2009.

International arrivals still have not returned to pre-9/11 levels, and overseas travel to the U.S. is expected to decline by 3 percent next year. By the end of 2011, overseas arrival still will not exceed the record level in 2000.