The travel market in the United States and Canada is a significant contributor to the global tourism industry. In 2019, the U.S. was the second most visited country in the world, with over 79 million international visitors, while Canada welcomed over 22 million international visitors. One of the key drivers of the U.S. and Canada travel market is domestic tourism. Both countries have large populations with a high level of disposable income, and many people choose to travel domestically for leisure or business purposes. In addition, both countries have a diverse range of attractions, including natural wonders, cultural and historical sites, and modern cities, making them popular destinations for both domestic and international travelers. International tourism is also a significant contributor to the U.S. and Canada travel market. Both countries attract visitors from around the world, with the majority of visitors coming from neighboring countries such as Mexico, Canada, and Europe. The U.S. and Canada also receive significant numbers of visitors from Asia, particularly China and Japan.
The COVID-19 pandemic has had a significant impact on the U.S. and Canada travel market, with international travel restrictions and border closures leading to a sharp decline in tourism. However, as vaccination rates increase and travel restrictions are lifted, the market is expected to recover gradually. In the post-pandemic era, travelers are expected to prioritize safety and hygiene, and sustainable tourism practices are expected to gain prominence. In addition, there is likely to be an increase in demand for remote and off-the-beaten-path destinations, as travelers seek to avoid crowds and prioritize outdoor experiences.
Overall, the U.S. and Canada travel market is expected to continue to be a major player in the global tourism industry, driven by factors such as domestic and international tourism, diverse attractions, and a growing emphasis on sustainability and safety.
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Key findings of the U.S and Canada Travel market study:
- The report provides a present market outlook on S and Canada Travel. Additionally, the U.S and Canada Travel market share is anticipated to grow with a CAGR of 10.14% in the forecast period.
- Regional breakdown of the U.S and Canada Travel market based on predefined taxonomy.
- Innovative manufacturing processes implemented by U.S and Canada Travel vendors in detail.
- Region-wise and country-wise fragmentation of the U.S and Canada Travel market to grasp the revenue, and growth outlook in these areas.
- Changing preferences among consumers across various regions and countries.
- Factors (Positive and Negative) impacting the growth of the global U.S and Canada Travel market.
- S and Canada Travel price, market share, and Trends forecast for assessment period 2022-2032
Key Segments Profiled in the US and Canada Travel Market
· By Type :
- Luxury Travel
- Business Travel
- Cruise Travel
- Specialty/Activity/Sports Travel
- Budget Travel
· By Age Group :
- Generation X
- Baby Boomers
· By Country :
- U.S Travel Market
- Canada Travel Market
The U.S and Canada Travel industry is dominated by some prominent players including
- Expedia, Inc.
- Booking Holdings Inc.
- American Express Global Business Travel (GBT)
- TCS World Travel
- Abercrombie & Kent USA, LLC
- Exodus Travels Ltd.
- BCD Travel
- Intrepid Travel
- Topdeck Travel Ltd.
The competition in the sector is driven by key parameters such as product price, targeted customer base, and strategic marketing. Major players in the market focused on the U.S and Canada Travel market innovation by investing more in research and development. Furthermore, the industry players are focusing on the extensive usage of online distribution channels for enhanced cost-effectiveness. The sustainability in the supply chain is a decisive factor for U.S and Canada Travel brands leading to an impact on the margin profits of firms.
Report Benefits & Key Questions Answered
- S and Canada Travel Company & brand share analysis: Company and brand share analysis on U.S and Canada Travel reveals how much market share is captured by Tier 1, Tier 2, and Tier 3 players
- S and Canada Travel Historical volume analysis: The industry analysis provides data & insights on historical volume sales of U.S and Canada Travel
- S and Canada Travel Category & segment level analysis: Fact.MR’s U.S and Canada Travel sales outlook offers category and segment level analysis on lucrative and nascent product types. Market players can use this information to identify sales potential and set sales targets at local, country, and regional level.
- S and Canada Travel Consumption by demographics: The market intelligence study provides consumption by demographics analysis so market players can design their product and marketing strategies on the basis of high-value consumers
- Post COVID consumer spending on S and Canada Travel: The report includes post COVID consumer spending analysis. This information will help business leads understand the shifts in purchasing power and behavior
- Manufacturing trend analysis: Vital information on how market players are aligning their manufacturing strategies with respect to evolving consumer sentiments