Industry: Travel services

Growth in Market Size of Travel and Tourism in North America (2018-2021, by %)
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  Industry: Travel services
  
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  Current:Market Sizing & Shares
  

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  The market size of the travel and tourism sector in North America reached a value of $235 billion in 2021
  
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  The travel and tourism market in North America grew by 55% in 2021
  
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  The travel and tourism market in North America grew at a CAGR of negative 8% during 2017-2021
  

Growth in Market Size of Travel and Tourism in North America (2018-2021, by %)

2018
4%
2019
−6%
2020
−53%
2021
55%

Published: November 2022 Source: GlobalData

Travel and Tourism in North America: Industry Overview
Travel and Tourism is one of the key sectors that play a pivotal role in any country’s economy and make a significant contribution to the country’s GDP. The global growth in travel and tourism activities has led to the rise of travel intermediaries, making them an important part of selling travel products to customers.
North America is the market leader in the travel and tourism sector with a contribution of 37% to the global market size. The market size of the travel and tourism sector in North America reached a value of $235 billion in 2021, with only 38% contribution from the in-store sector and the remaining 62% from the online sector. In recent years, the rise in the number of online travel intermediaries was aided by the growth in the number of internet users along with the demand for convenience among travelers further supported the rise in the market for online travel Intermediaries.
Even though there has been a rise in the number of online travel intermediaries, in-store travel still has its relevance and has been growing steadily for the past few years as it provides a sense of security, especially for the elderly who are generally skeptical of the usage of online platforms.
The travel and tourism market in North America grew by 55% in 2021 with in-store growth of 47% and online growth of 61%, as the sector witnessed a recovery in the demand after easing the restrictions which were placed on account of the outbreak of the COVID-19 pandemic and travel intermediaries’ sharp rise in travel products as the consumers plan their travel activities after the gap of almost two years. The growth in 2021 accounted for $84 billion, the biggest among all the regions.
Meanwhile, the growth which the travel and tourism sector was going to see was reversed with the pandemic which completely devastated the industry in 2020. During the year 2020, the market value of the travel sector in the North American region saw a de-growth of 53%, the highest among all regions, accounting for a whopping $171 billion.
Key travel destinations among travelers in North America include New York, Los Angeles, Vancouver, Washington, Dallas, and US Virgin Islands among others.
The travel and tourism market in North America grew at a CAGR of negative 8% during the period 2017-2021. The global travel industry along with its allied sectors saw a slump in market value with the pandemic in 2020. Before 2020, the industry was also witnessing slow growth due to low economic growth.
The major companies with a strong presence in the travel market in North America include Booking Holding Inc, Expedia, Sabre Corp, American Express Global Business Travel, and Travel Leaders Group among others.
Published: November 2022 Source: GlobalData

North America Tourism

Bordered by oceans on all the sides, the North American continent is home to several spectacular locations and breath-taking sceneries, making it one of the most coveted international tourist destinations. Avail the best North America tourism packages in consultation with your travel agent to ensure that you get the best, most valuable deals.
Download the online North America tourism guide so you are well-informed about your fabulous holiday destination. Your North America tours should be planned bearing in mind the weather and travelling members’ fitness levels, among other things. This will ensure that you enjoy a fun-filled, exciting, and truly unforgettable vacation in North America!

Best North America Tourism Guide

The vast continent of North America has much to lure the tourism world. When you Travel to North America, the sweeping forests, undulating fields, stunning oases, throbbing metros cities and high-plain deserts will overwhelm your imagination. North America Holidays promise to be grandiose. The vast canvas of the continent flaunts many distinct cultures, countries and cities.
The history of the continent is interwoven beautifully into a tapestry that North America flaunts. With so much to offer, North America Vacation packages are often the most popular travel options for tourists. This treasure trove of history, art, cultural renaissance, natural landforms and diverse wildlife and flora and fauna, is filled with iconic sites. The Museum of Modern Art in New York and the Smithsonian in Washington DC have emerged as paragons in their respective domains. When on a Trip to North America, you can choose the North America Holiday Packages to take you to these centers of knowledge, art and history.
Since you will be setting foot into a foreign land, it is good to do as much research as possible at your end – starting from the continent’s history and geography, to the various must-visit places, and even the kind of food that you must try. Having the map of North America handy is a great idea too.
Go on North America Tours with North America Travel Packages to see the cultural cauldron of the US, Canada and Mexico. Witness the unique Alaska, great White north or the dazzling Grand Canyons. North America Tour promises an adventure never had before.