As per the latest findings of Future Market Insights, the USA and Canada tourism revenue is expected to be US$ 172,331.2 Million by the end of 2023. In the long-term, the market is estimated to reach at a valuation of around US$ 253,839.3 Million in 2033.
| Attribute | Details |
|---|---|
| Travel Gross Revenue (2023 E) | US$ 172,331.2 Million |
| Projected Market Size (2033 F) | US$ 253,839.3 Million |
| Value CAGR (2023 to 2033) | 3.9% |
| USA and Canada Tourism Market Top Players Share in 2022 | 10% to 15% |
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The USA and Canada tourism market saw a mix of growth and decline during the period of 2018 to 2022. In 2018, the number of international visitors to the USA reached a record high, with over 77 million visitors. However, this number decreased drastically in 2019 and 2020 due to a number of factors such as the strong USA dollar, increased visa restrictions, and the outbreak of COVID-19.
Similarly, Canada saw a decline in international visitors during this period, with a decrease of 7% in 2019 and a further decline of over 70% in 2020 due to COVID-19. Domestic tourism was also affected by the COVID-19 pandemic, with many people cancelling or postponing travel plans. Post the pandemic, the tourism market in the USA and Canada begin to recover steadily in 2021 and 2022, with an increase in travel restrictions lifted and a vaccine roll-out. With the number of vaccinations increasing, people are feeling more comfortable to travel again.
Overall, the USA and Canada tourism market saw a decline in the number of visitors during 2018-2022 due to the COVID-19 pandemic, but the regional market is expected to recover on the back of numerous new strategies implemented by the regional players to counter the sudden adverse impacts of the pandemic. The market is forecast to grow at a steady CAGR of 3.9% during the forecast period of 2023-2033.
Expansion of low-cost travel options contributing towards market growth
A robust economy in both the USA and Canada has led to increased consumer spending, including on travel. The expansion of low-cost airlines and the growth of budget travel options have made air travel more accessible and affordable for many people. Both USA and Canada government and private sector have increased their efforts to market and promote the countries as a tourist destination. As more people around the world have disposable income, they are travelling more and choosing to visit these regions. Both countries are home to many popular tourist destinations such as New York City, Niagara Falls, Vancouver, Banff, and the Grand Canyon, which continue to attract large numbers of visitors.
Moreover, the legalization of cannabis in some states in respect to the tourism, has opened up more opportunities for the industry. Relaxing visa policies for travelers from certain countries, rising popularity of experiential travel, the prevalence of the road trip and drive-to-travel trend is helping market growth. Natural and scenic beauty of Canada, its diverse culture and diverse cuisine, etc., are other factors that make Canada a desirable destination. The proximity of the two countries makes it easy for travelers to visit both of them in a single trip.Top of Form
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Pandemic has increased interest in health and wellness tourism, as people look for ways to improve their physical and mental well-being
More and more tourists are looking for authentic and unique experiences, such as adventure travel, cultural immersion, and ecotourism. This trend is especially popular among millennials and Gen Zers. The COVID-19 pandemic has led to a resurgence of road trips and drive-to-travel, as people look for more flexible and socially-distanced travel options. With the increasing awareness of the importance of mental and physical well-being, more and more tourists are looking for outdoor and nature-based activities such as hiking, camping, and wildlife viewing.
The popularity of food and drink in the region continues to grow, as more and more tourists seek out local and authentic culinary experiences. The COVID-19 pandemic has increased interest in health and wellness tourism, as people look for ways to improve their physical and mental well-being by travelling to new destinations. With the growing awareness of the importance of environmental and social sustainability, more and more tourists are looking for sustainable travel options and experiences.
Due to the COVID-19 pandemic, many people choose to travel domestically rather than internationally, which has boosted the tourism market in the USA and Canada. The advent of the vaccination against COVID-19 and the gradual opening of the borders has boosted the travel industry in the regions.
The popularity of food and drink tourism continues to grow, as more and more tourists seek out local and authentic culinary experiences
The increasing use of smartphones and the internet has made it easier for tourists to research and book travel online. Companies that can effectively leverage digital technology to reach and serve customers will be well-positioned for growth. As more and more tourists seek out unique and authentic experiences, there is a growing opportunity for companies that can offer niche and experiential tourism products, such as adventure travel, cultural immersion, and ecotourism. With the growing awareness of the importance of environmental and social sustainability, there is a growing opportunity for companies that can offer sustainable travel options and experiences.
The COVID-19 pandemic has increased interest in health and wellness tourism, as people look for ways to improve their physical and mental well-being. The popularity of food and drink tourism continues to grow, as more and more tourists seek out local and authentic culinary experiences. Numerous people are choosing to travel domestically rather than internationally, which presents an opportunity for companies to market the tourism offerings of their own country.
Further, as the technology advances, there will be more opportunities for companies to use virtual and augmented reality technology to enhance the tourist experiences. With the COVID-19 pandemic, more and more people are looking for socially-distanced travel options, which presents an opportunity for companies to market and offer road trips and drive-to-travel options.
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Increasing popularity of experimental travel and adventure tourism will lead to increase in the number of younger tourists
The age group that is most represented in the USA and Canada tourism market varies depending on the specific destination and type of travel. However, the largest age group of tourists in the USA and Canada are baby boomers, followed by Millennials, and Gen Xers.
Baby Boomers tend to have more disposable income and often travel for leisure, while millennials and Gen Xers are more likely to travel for experiences, adventure and to explore. With the increasing popularity of experiential travel and adventure tourism, it is likely that the proportion of younger tourists will continue to grow in the future.
Online booking channels to lead the booking channel category
Tourists in the USA and Canada typically use a variety of booking channels to plan and book their travel. Websites such as Expedia, Booking.com, and Orbitz are popular among tourists as they offer a wide variety of travel products and services, such as flights, hotels, car rentals, and vacation packages. Many tourists prefer to book directly with the hotels, airlines, and other travel providers to get the best deals and offers. Many travel providers are using social media platforms to reach out to potential customers and make bookings.
With the increasing use of smartphones, more and more tourists are using mobile apps and mobile-optimized websites to research and book travel. Many tourists, especially older and more affluent travelers, prefer to use a travel agent to plan and book their travel, as they can provide personalized service and advice. With the increasing popularity of virtual assistants such as Amazon Alexa, Google Home, and Apple Siri, more and more tourists are starting to use voice commands to book travel on online platforms.
Major hotel chains such as Marriott, Hilton, and InterContinental Hotels Group have a strong presence in both the USA and Canada. There are also many independent and boutique hotels that compete for customers. Airlines such as American Airlines, Delta, and United are major players in the USA, while Air Canada and WestJet are major players in Canada. Low-cost carriers such as Spirit and Frontier also compete for customers in the USA market.
Moreover, major car rental agencies such as Enterprise, Avis, and Hertz compete for customers in both the USA and Canada. Overall, tourism market in USA and Canada is diverse and constantly evolving, with a mix of major players and smaller niche players striving for customers. New players are emerging in the market and the industry is getting more diversified.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million for Value |
| Key Segments Covered | By Direct Suppliers, By Indirect Suppliers, By Number of Bookings(Demographic, Nationality, Booking Channel, Activity Type, Tourism Type, Tour Type, Age) |
| Report Coverage | Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives, Spending, |
| Customization & Pricing | Available upon Request |
The market is valued at US$ 172.3 million in 2023.
Marriott, Hilton, and InterContinental Hotels Group are key market players.
The market’s CAGR from 2023 to 2033 is expected to be 3.9%.
Expansion of low-cost travel options is the key market trend.
The market is expected to be valued at US$ 253.8 million by 2033.
1. Executive Summary | USA and Canada Tourism Market
1.1. Tourism Market Outlook
1.1.1. Who Is Travelling?
1.1.2. Travel Gross Bookings
1.1.3. Travel Gross Revenue
1.1.4. How Much Do They Spend?
1.2. Tourism Evolution Analysis
1.3. FMI Analysis and Recommendations
2. Growth Parameters in Tourism
2.1. Expansion of low-cost airlines and the growth of budget travel options have made air travel more accessible and affordable
2.2. Pandemic has increased interest in health and wellness tourism, as people look for ways to improve their physical and mental well-being through travel and tourism
2.3. The popularity of food and drink tourism continues to grow, as more and more tourists seek out local and authentic culinary experiences
2.4. Increasing popularity of experimental travel and adventure tourism will lead to increase in the proportion of younger tourists
2.5. Online Booking Channel rise the Tourism
3. Direct Suppliers in Tourism
3.1. Total Supplier Market, Share by Segment (%), 2022
3.1.1. Airlines
3.1.2. Hotel Companies
3.1.3. Car Rental
3.1.4. Train
3.1.5. Tour Operators
3.1.6. Government Bodies
4. Indirect Suppliers in Tourism
4.1. OTA (Online Travel Agency)
4.2. Traditional Travel Agencies
4.3. TMC's ( Travel Management Companies)
4.4. Corporate Buyers
4.5. Aggregators
5. Tourism Number of Bookings, 2022
5.1. By Age
5.1.1. Under 15
5.1.2. 16-25
5.1.3. 26-35
5.1.4. 36-45
5.1.5. 46-55
5.1.6. Over 55
5.2. By Activity Type
5.2.1. Cultural & Heritage
5.2.2. Medical
5.2.3. Eco/sustainable
5.2.4. Sports
5.2.5. Wellness
5.2.6. Other
5.3. By Tourism Type
5.3.1. Domestic
5.3.2. International
5.4. By Demographic
5.4.1. Male
5.4.2. Female
5.4.3. Kids
5.5. By Booking Channel
5.5.1. Phone Booking
5.5.2. Online Booking
5.5.3. In Person Booking
5.6. By Tour Type
5.6.1. Individual travel
5.6.2. Professional Groups
5.6.3. Group travels
6. Country Shift, Key Countries in Focus, 2022
6.1. USA
6.1.1. By Age
6.1.2. By Activity Type
6.1.3. By Tourism Type
6.1.4. By Demographic
6.1.5. By Booking Channel
6.1.6. By Tour type
6.2. Canada
6.2.1. By Age
6.2.2. By Activity Type
6.2.3. By Tourism Type
6.2.4. By Demographic
6.2.5. By Booking Channel
6.2.6. By Tour type
7. Tourism Gross Revenue
7.1. Tourism Gross Revenue (US$ Million) and Forecast (2023 to 2033)
7.2. Number of Bookings (Million) and Forecast (2023 to 2033)
7.3. Total Spending Y-o-Y Growth Projections (2023 to 2033)
7.4. Number of Tourists Y-o-Y Growth Projections
8. Challenges & Looking Forward
8.1. Success Stories: Case Studies
8.2. FMI Recommendations
9. Market Stakeholders Landscape – Key Direct Suppliers
9.1. Airlines
9.1.1. Top Players
9.1.2. Market Concentration
9.1.3. Market Share
9.2. Hotel Companies
9.2.1. Top Players
9.2.2. Market Concentration
9.2.3. Market Share
9.3. Car Rental
9.3.1. Top Players
9.3.2. Market Concentration
9.3.3. Market Share
9.4. Trains
9.4.1. Top Players
9.4.2. Market Concentration
9.4.3. Market Share
9.5. Tour Operators
9.5.1. Top Players
9.5.2. Market Concentration
9.5.3. Market Share
10. Social Media Sentimental Analysis
10.1. Travel Influencers: A new Phenomenon in the world of Tourism
10.2. Social Media Platforms Preferred
10.3. Trending #Hashtags
10.4. Social Media Platform Mentions (% of Total Mentions)
10.5. Trending Subject Titles
11. Assumptions and Acronyms Used
12. Research Methodology
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USA and Canada Tourism Market
