What is the global market size of U.S. & Canada Travel Market?

U.S. & Canada Travel Market size was valued at USD 952.8 billion in 2021 and is poised to grow from USD 1052.84 billion in 2022 to USD 2117.87 billion by 2030, at a CAGR of 10.5% during the forecast period (2023-2030).

Who are the key vendors in the Global U.S. & Canada Travel Market?

Because there are numerous companies, the market is very competitive. To increase their market share and solidify their position in the sector, market participants are launching new services and engaging in various strategic efforts, such as collaborations, mergers, acquisitions, agreements, and the formation of new companies. 'Accor', 'Airbnb', 'American Express Global Business Travel', 'Booking Holdings', 'Carnival Corporation', 'Delta Air Lines', 'Enterprise Holdings', 'Expedia Group', 'Hilton Worldwide Holdings', 'Hertz Global Holdings', 'InterContinental Hotels Group', 'Marriott International', 'Norwegian Cruise Line Holdings', 'Priceline Group', 'Royal Caribbean Cruises', 'Southwest Airlines', 'TripAdvisor', 'United Airlines', 'WestJet Airlines', 'Wyndham Destinations'.

U.S. & Canada Travel Market Size, Share, Growth Analysis, By Age Group(Luxury, Business Travel, Cruise, Specialty/ Activity/ Sports), By Region - Industry Forecast 2024-2031

Report ID: SQMIR25O2020 | Region: Regional | Published Date: April, 2024
Pages: 223 | Tables: 38 | Figures: 74

U.S. & Canada Travel Market Dynamics

U.S. & Canada Travel Market Drivers

Economic Conditions

Employment rates are a key indicator of economic conditions, and they directly impact the travel industry. When employment rates are high, consumers tend to have more disposable income, which can lead to increased spending on travel. Conversely, when employment rates are low, consumers may have less disposable income, which can lead to decreased spending on travel.

Demographic changes

Demographic changes such as aging populations, shifting immigration patterns, and changing family structures can also impact the travel market. For example, as the baby boomer generation retires, they may have more time and resources to travel, which can increase demand for travel products and services.

U.S. & Canada Travel Market Restraints

Geopolitical instability

Geopolitical instability and security concerns can also impact the travel industry, particularly for international travel. For example, terrorist attacks and political unrest can lead to travel advisories and restrictions, which can significantly reduce travel demand.

U.S. & Canada Travel Market Report Snapshots

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US & Canada Travel Market size was valued at USD 1052.84 billion in 2022 and is poised to grow from USD 1163.39 billion in 2023 to USD 2585.97 billion by 2031, at a CAGR of 10.5% during the forecast period (2024-2031).

Because there are numerous companies, the market is very competitive. To increase their market share and solidify their position in the sector, market participants are launching new services and engaging in various strategic efforts, such as collaborations, mergers, acquisitions, agreements, and the formation of new companies. 'Accor', 'Airbnb', 'American Express Business Travel', 'Booking Holdings', 'Carnival Corporation', 'Delta Air Lines', 'Enterprise Holdings', 'Expedia Group', 'Hilton Worldwide Holdings', 'Hertz Holdings', 'InterContinental Hotels Group', 'Marriott International', 'Norwegian Cruise Line Holdings', 'Priceline Group', 'Royal Caribbean Cruises', 'Southwest Airlines', 'TripAdvisor', 'United Airlines', 'WestJet Airlines', 'Wyndham Destinations'

Employment rates are a key indicator of economic conditions, and they directly impact the travel industry. When employment rates are high, consumers tend to have more disposable income, which can lead to increased spending on travel. Conversely, when employment rates are low, consumers may have less disposable income, which can lead to decreased spending on travel.

Domestic travel

The Southeast region of the U.S. is a dominant market for travel, with cities like Miami, New Orleans, and Atlanta attracting visitors from around the world. The Southeast region of the U.S. is known for its warm climate, beaches, and hospitality. Popular tourist destinations include Florida, Georgia, and the Carolinas, which offer a variety of outdoor activities and cultural experiences. The region is also home to major theme parks, such as Walt Disney World and Universal Studios Orlando, which draw large crowds of tourists.

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U.S. & Canada Travel Market Size, Share, Growth Analysis, By Age Group(Luxury, Business Travel, Cruise, Specialty/ Activity/ Sports), By Region - Industry Forecast 2024-2031

U.S. & Canada Travel Market Dynamics

U.S. & Canada Travel Market Report Snapshots

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What is the market size of U.S. & Canada Travel Market?

Who are the key vendors in the U.S. & Canada Travel Market?

What is the key driver of U.S. & Canada Travel Market?

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Which region accounted for the largest share in U.S. & Canada Travel Market?

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