The U.S. outbound tourism market was valued at US $101,697 million in 2022. Revenue in the Travel & Tourism market is projected to reach $190.40 billion in 2023. Inbound visitors spent $12.6 billion on travel to, and tourism-related activities in the U.S. – up 105% compared to May 2021.
What is the size of the tourism industry?
Report Description:
Attribute | Description |
---|---|
Market Size | Revenue (USD Trillion) |
Market size value in 2022 | USD 11.1 Trillion |
Market size value in 2030 | USD 16.9 Trillion |
CAGR (2022 to 2030) | 5.4% |
How much of the US GDP is the tourism industry?
According to WTTC's Travel & Tourism Economic Impact 2023 Global Trends Report, the GDP contribution of the U.S. Travel & Tourism sector grew by 16.9% in 2022, to reach $2TN. Additionally, the sector also created 2.7MN more jobs compared to 2021.
Is tourism a huge industry?
Tourism is a huge industry – it's as large as or larger than the oil, food and car industries. It creates so many jobs that one in every ten people in the world works in tourism. However, for many people and places, tourism is not a completely positive thing.
How big is the tourism industry in the US?
How big is the tourism market in 2023?
Global Tourism – Market Size (2005–2029)
Year | Value |
---|---|
Feb 1, 2020 | 1,318,049.236 |
Feb 1, 2021 | 1,423,450.586 |
Feb 1, 2022 | 2,006,458.333 |
Feb 1, 2023 | 2,285,600 |
What percent of the economy is tourism?
In 2022, the Travel & Tourism sector contributed 7.6% to global GDP; an increase of 22% from 2021 and only 23% below 2019 levels. In 2022, there were 22 million new jobs, representing a 7.9% increase on 2021, and only 11.4% below 2019.
Is tourism a growing industry?
Travel and tourism GDP is predicted to grow, on average, at 5.8 percent a year between 2022 and 2032, outpacing the growth of the overall economy at an expected 2.7 percent a year. 5. So, is it all systems go for travel and tourism? Not really. The industry continues to face a prolonged and widespread labor shortage.
Which state has the least tourism?
AlaskaMost visited states in the U.S. 2022In contrast, only 13 percent of respondents said they had visited Alaska, making it the least-visited state.
Does the US have a lot of tourism?
Also, in 2019, nearly 80 million international travelers visited the United States and contributed nearly $240 billion to the U.S. economy, making the United States the global leader in revenue from international travel and tourism.