Tourism in the US - Industry Market Research Report

Tourism in the US - Industry Market Research Report

Tourism in the US

Over the five years to 2018, the Tourism industry has experienced relatively steady growth. However, despite increasing consumer sentiment, declining unemployment and an increase in the number of trips domestic and international travelers were taking in the United States, revenue growth was sluggish early during the period amid heightened competition and unstable commodity markets. Over the five years to 2023, the industry is forecast to experience greater growth and steadier revenue gains. While consumer confidence is projected to decrease over the next five years, inbound trips by non-US residents, domestic trips by US residents and consumer spending are forecast to increase, resulting in increased demand for industry services.

Tourism is defined as visitors spending during travel primarily for business, convention or conference travel, government business, and the more familiar tourism for leisure, vacation or to visit friends and relatives. Major industries that benefit from tourism expenditure include domestic and international air transportation, accommodation services, food services, drinking places, automotive rental and travel agencies.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.