About 71% of active U.S. travelers say they are more likely to travel internationally than they were two years ago. The U.S. has lost half its market share, 10% of global inbound travel to 5%, since 1995. What is happening exactly? We'll give you a couple of guesses...

Also, how does war and regional instability affect travel routes of the major carriers? And when gas prices for airlines go up because of all these wars, who ends up paying? Again, you'll get a few guesses...

But it's not all doom + gloom, we open with how "grocery store tourism" is apparently a thing now? And $22 smoothies aside, that's a good thing.

For 70 years, duty free sat at the intersection of monopoly on concessions, opaque pricing, cross-border tax rules, very captive audiences, and political insulation. Non-aeronautical revenue — retail, food, alcohol, duty free — accounts for roughly 40–60% of total airport revenue at major hubs.

Duty-free shopping existed for a pretty straightforward economic reason: it helps countries capture spending from international travelers. When a traveler leaves a country, the products they buy in the airport are technically exports. Because those goods are leaving the country and won’t be consumed locally, governments allow retailers to remove local taxes like VAT or GST.

But does it still work? And why? Surely you're not saving that much in a system that's only gotten more rigged through the decades. Or ARE you.......

The Nine Freedoms of the Air are one of the most fascinating (and quietly political) frameworks in global aviation. They define what airlines are allowed to do when flying between countries, and they shape everything from ticket prices to whether Dallas gets a nonstop to Dubai.

But look, see, in aviation, freedom's just another word for restrictions with diplomatic paperwork. The Nine Freedoms are the rulebook for who gets to compete, and who gets locked out in a sky full of negotiated corridors.

Matt Cornelius is Executive Vice President of Airports Council International - North America (ACI-NA), and return guest to No Show. The "Airport Whisperer" tells us what are they, what they mean, and why they exist. Plus the return of our favorite word. That's right...it's cabotage!