The U.S. and Canada travel market size is expected to reach USD 2.45 trillion by 2030, registering a CAGR of 7.8% from 2025 to 2030. Increased spending by travelers across the U.S. and Canada to visit unexplored destinations and gain new experiences is driving the market. In addition, the growing trend of micro trips and the rapidly expanding tourism sector across the two countries have been boosting the market growth. Personalized services, reliable transport, exclusivity, and positive & professional interaction with staff are what set the benchmark for travel.
Traveling around the world is being greatly influenced by favorable factors, such as the growing political stability, improving attitudes toward gender, ethnicity, sexual orientation, and race, and more accommodating visa regulations. Travelers are looking to create their own unique experiences through flexible itineraries that combine entertainment as well as relaxation. There has been an increasing popularity of value-driven trips that offer money’s worth and brands that are based on price and convenience, especially among millennial and younger travelers. However, travel has been one of the first and hardest-hit industries since the COVID-19 pandemic.
Strict lockdowns and shelter-at-home orders in most parts of the world have adversely impacted the travel industry and the assorted ecosystems that rely on it. The luxury travel segment accounted for the largest share in 2024. An increase in disposable spending by consumers in the U.S. and Canada is the key factor driving the segment growth. According to a report published by TripAdvisor in May 2021, high-income millennials in the U.S. were the key spenders on luxury trips and a majority of them took purpose-driven travels, mainly for self-care and relaxation. Such trends are likely to bode well for the growth of this segment.
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Traveling around the world is being greatly influenced by favorable factors, such as the growing political stability, improving attitudes toward gender, ethnicity, sexual orientation, and race, and more accommodating visa regulations. Travelers are looking to create their own unique experiences through flexible itineraries that combine entertainment as well as relaxation. There has been an increasing popularity of value-driven trips that offer money’s worth and brands that are based on price and convenience, especially among millennial and younger travelers. However, travel has been one of the first and hardest-hit industries since the COVID-19 pandemic.
Strict lockdowns and shelter-at-home orders in most parts of the world have adversely impacted the travel industry and the assorted ecosystems that rely on it. The luxury travel segment accounted for the largest share in 2024. An increase in disposable spending by consumers in the U.S. and Canada is the key factor driving the segment growth. According to a report published by TripAdvisor in May 2021, high-income millennials in the U.S. were the key spenders on luxury trips and a majority of them took purpose-driven travels, mainly for self-care and relaxation. Such trends are likely to bode well for the growth of this segment.
U.S. And Canada Travel Market Report Highlights
- U.S. emerged as the largest market in the year 2024. This trend is expected to continue over the forecast period as Americans are gradually resuming international travel.
- Leisure travel accounted for a revenue share of over 33% in 2024, driven by increased disposable spending by consumers in the U.S. and Canada. And business travel is projected to grow at a CAGR of 8.8% from 2025 to 2030.
- The travel market for the 41-60 age group accounted for over 42% of the revenue share in 2024, And the travel market for the 21-30 age group is projected to grow at a CAGR of 8.6% from 2025 to 2030.
- The penetration of budget-friendly travel trends among consumers across the U.S. and Canada is likely to complement the segment growth.
- Value-driven trips and brands that are built on affordability and convenience are becoming increasingly popular, especially among millennial and younger travelers, which is supporting the segment growth.
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. U.S. and Canada Travel Market Variables, Trends and Scope
Chapter 4. Consumer Behavior Analysis
Chapter 5. U.S. and Canada Travel Market: Type Estimates and Trend Analysis
Chapter 6. U.S. and Canada Travel Market: Age Group Estimates and Trend Analysis
Chapter 7. U.S. and Canada Travel Market: Tourist Type Estimates and Trend Analysis
Chapter 8. U.S. and Canada Travel Market: Competitive Analysis
List of Tables
List of Figures
Companies Mentioned
- Expedia, Inc.
- Booking Holdings Inc.
- American Express Global Business Travel (GBT)
- TCS World Travel
- Abercrombie and Kent USA, LLC
- Exodus Travels Ltd.
- BCD Travel
- Intrepid Travel
- Topdeck Travel Ltd.
- Trafalgar
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 110 |
| Published | November 2024 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 1.53 Trillion |
| Forecasted Market Value ( USD | $ 2.45 Trillion |
| Compound Annual Growth Rate | 7.8% |
| Regions Covered | Canada, United States |
| No. of Companies Mentioned | 10 |
