U.S. & Canada Travel Market

U.S. & Canada Travel Market Size, Share, Growth Analysis, By Age Group(Luxury, Business Travel, Cruise, Specialty/ Activity/ Sports), By Region - Industry Forecast 2025-2032


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

U.S. & Canada Travel Market Insights

U.S. & Canada Travel Market size was valued at USD 1163.39 Billion in 2023 and is poised to grow from USD 1285.55 Billion in 2024 to USD 2857.5 Billion by 2032, growing at a CAGR of 10.5% during the forecast period (2025-2032).

To create unique experiences of their own, travellers are looking for flexible itineraries that blend entertainment and relaxation. Value-driven trips offering good value for the money and companies prioritising affordability and convenience have become increasingly popular, especially among millennial and younger travellers. The U.S. Travel Association estimates that total travel expenditures in the U.S. reached $93 billion in February 2023, a 5% increase over 2019 levels and a 9% increase over 2022 levels. The rising numbers of millennial and middle-class traveller groups will aid the growth of the market.

Positive developments in attitudes regarding gender, race, ethnicity, sexual orientation, and political stability, as well as more lenient visa policies, have a significant impact on international travel. Products, dependable transportation, exclusivity, and friendly & professional employee interactions set the travel standard. The U.S. and Canada will be facilitated by the government's increased efforts to revive the economy by directing funds into the system, and aiding various enterprises in starting new projects. Additionally, it is anticipated that the market will be fuelled by the increasing trend of transformational travel, which is focused on wellness travels to heal, balance, and transform the mind, spirit, and body.

 

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U.S. & Canada Travel Market size was valued at USD 1163.39 Billion in 2023 and is poised to grow from USD 1285.55 Billion in 2024 to USD 2857.5 Billion by 2032, growing at a CAGR of 10.5% during the forecast period (2025-2032).

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'

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

Report ID: SQMIR25O2020

$3,500
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