United States, Rockville MD, Aug. 04, 2022 (GLOBE NEWSWIRE) — The travel market in the US and Canada is projected to generate USD 952 million in 2022 and is likely to exhibit a CAGR of 10.14% from 2022 to 2032. The expansion of the market can be attributed to the growing number of millennial and middle-income groups of travelers.
According to the World Tourism Organization, the economic contribution of tourism in 2021 is likely to have accumulated $1.9 trillion, compared to $1.6 trillion in 2020. The growing trend of transformational travel focusing on wellness travel to renew the mind, spirit and the body is likely to drive the market positively.
Travel and tourism exhibitions in the US are a prominent factor that is likely to increase the market size during the forecast period. For example, World Deer Expo 2022 will feature a weekend for people who are fond of outdoor activities. Another such expo is the Scuba Show 20223, which would feature exhibits related to areas such as marine, adventure, underwater photography, seafood preparation and marine conservation. Such factors are expected to encourage people to travel, which will ultimately benefit the travel industry in the US and Canada during the forecast period.
For critical insights into this market, seek more information at:
Additionally, the launch of other travel apps, such as the Una Travel app from startup XOKind, curates collaborative itineraries for individual travelers and groups, mostly based on interests. Another such example is Out of Office, which allows users to browse travel recommendations from trusted sources and then book them via OpenTable, and the new TPG app from travel website The Points Guy , which aims to increase the power of loyalty rewards collected by users. point.
Rather, factors such as the US withdrawal from Afghanistan and the issues between France and the US over the tripartite AUKUS submarine agreement have affected the image of the US as a superpower and have also affected other travel industries. In addition, the number of visas issued by US embassies across Europe has dropped dramatically compared to pre-COVID times.
Key relations from the U.S and Canada Travel Market
- The millennial segment is projected to dominate the US and Canada market during the forecast period. In 2022, the segment is expected to claim around 50% of revenue.
- The travel market in the US and Canada will account for approximately USD 2.5 billion during the forecast period.
- The luxury segment will dominate the US and Canada market during the forecast period. In 2021, the segment accounted for around 32% of global revenue.
- The travel market in the US and Canada is expected to generate $952 million by 2022.
- The travel market in the US and Canada is projected to exhibit a CAGR of 10.14% during the forecast period.
Key players in the US and Canada travel market include Expedia, Inc., Booking Holdings Inc., American Express Global Business Travel (GBT), TCS World Travel, Abercrombie & Kent USA, LLC, Exodus Travels Ltd., BCD Travel, Intrepid Travel, Topdeck Travel Ltd., and Trafalgar.
- In April 2021, Expedia launched new features and advertising campaigns in anticipation of increased travel. Changes such as a new itinerary experience allow travelers to see all the details of their trip in one place, plans to simplify the insurance experience and help travelers discover and experience more destinations, among others.
- In November 2021, Booking Holdings Inc. announced that it signed an agreement to acquire Getaroom, a B2B distributor of hotel rooms, from Court Square Capital Partners for approximately $1.2 billion.
To gain in-depth knowledge in Travel Market in the US and CanadaRequest Methodology in
What is the Contribution of strands in Developing the Travel Market in the US and Canada?
Airalo, Ditto, Amenitiz, Troop, Yoti, The Hotels Network, Smooss, Blueboard, Port, Hopin and Butler Hospitality are some of the emerging entities in the US and Canadian travel market. Startups are likely to make a significant contribution to the market.
- For example, Airalo, which offers digital SIM cards for travelers, raised $5.4 million in Series A funding. The round was initiated by Rakuten Ventures with participation from Antler, Sequoia Capital India’s Surge program, LG Technology Ventures, Plug and Play Ventures , Go Ventures and others. Thus, startups are expected to make a significant contribution to driving the travel market in the US and Canada.
Key segments profiled in the US and Canadian travel market
- By type:
- Luxury travel
- Business trip
- Cruise trip
- Specialty/Activity/Sports trips
- Budget travel
- By age group:
- Generation X
- Baby Boomers
- By state:
- The US Travel Market
- Canada Travel Market
Interested in procuring data? Ask here
More valuable insights
Fact.MR, in its new offering, presents an unbiased analysis of the global retail cooler market, presenting a historical analysis from 2017 to 2021 and forecast statistics for the period 2022-2032.
The study reveals key insights by Type (Luxury, Business Travel, Cruise, Specialty/Activity/Sport, Budget), by Age Group (Millennial, Generation X, Baby Boomers) and Region (North America).
circle Consumer Goods Division IN Fact. MR
The consumer goods team at Fact.MR provides expert analysis, time-efficient research and strategic recommendations with an objective to deliver authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been clearly analyzing the industry in 50+ countries for over a decade. The team provides a brief analysis on key trends including the competitive landscape, profit margin and research development efforts.
Explore Fact. MR’s Coverage in customer wares -domain
Epilators Market – Epilators Market Analysis, by Type (Tweezers, Spring, Wet Use, Rotary Disc Epilators), by Distribution Channel (Trade Channels (Salons), Retail Pharmacy, Mail Order and Online Channels) ) – Global Market Insights 2022 to 2032
Bed and Furniture Incontinence Protection Market – Bed and Furniture Incontinence Protection Market by Product Type (Drip Catchers, Diapers, Adult Diapers, Cunningham Clips, Bed Pads, Sheets), By Gender (Male, Female ), by use (reusable, disposable), by distribution channel (Institutional sales, retail stores, online channels) and region – Global Market Insights 2022 to 2032
Trade Finance Market – Trade Finance Market By Trade Activity (Factoring, Export Credit, Insurance), By Transaction (Domestic Only, International Only), By End User (Importers & Exporters, Banks & Financiers, Insurers & Export Credit Agencies ) & Region – Global Market Insights 2022 to 2032
Heart Rate Monitor Watch Market – Heart Rate Monitor Watch Market Analysis, by Operating System (Android, iOS), by Application (Healthcare, Sports, Personal Assistance), by Display Type (PMOLED, AMOLED, TFT LCD) – Global Market Insights 2022 to 2032
Non-Alcoholic Hand Sanitizers Market – Non-Alcoholic Hand Sanitizers Market Analysis, By Product Form (Foam, Gel, Cream, Liquid), By Packaging Type (Roll Bottles, Pump Bottles, Spray Bottles), By Size packaging (under 100 ml). , 101 ml – 300 ml, 301 ml – 500 ml, 501 ml and above), By End Use (Institutional, Household), By Sales Channel (Offline, Online) – Global Market Insights 2022 to 2032
Automatic Pet Feeder Market – Automatic Pet Feeder Market Analysis, By Pet Type (Dogs, Cats, Other Pet Types), By Capacity (Less than 2 Liters, 2 -5 Liters, Over 5 litres), by distribution channel (online sales channels, offline sales channels) – Global Market Insights 2022 to 2032
Market research and consulting agency with a difference! That’s why 80% of Fortune 1000 companies trust us to make their most critical decisions. While our experienced consultants use the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have in our expertise. Covering a wide range – from automotive and industry 4.0 to healthcare and retail, our coverage is broad, but we ensure that even the most niche categories are analysed. Our sales offices in the United States and Dublin, Ireland. Headquartered in Dubai, United Arab Emirates. Contact us with your goals and we will be a capable research partner.
US Sales Office:
11140 Rockville Pike
Rockville, MD 20852
Phone: +1 (628) 251-158