U.S. And Canada Travel Market Expected To Witness A Substantial Growth Of USD 2.29 Billion By 2030Posted by Neha Bora on September 29th, 2022 San Francisco, 29 Sep 2022: The Report U.S. And Canada Travel Market Size, Share & Trends Analysis Report By Type (Luxury, Budget Travel, Business Travel, Cruise), By Age Group (Millennial, Generation X), And Segment Forecasts, 2022 - 2030 The U.S. and Canada travel market size is expected to reach USD 2.29 billion by 2030, registering a CAGR of 10.3% over the forecast period, according to a new report by Grand View Research, Inc. 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 2021. 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. Access Research Report of U.S. And Canada Travel Market @ https://www.grandviewresearch.com/industry-analysis/us-canada-travel-market-report U.S. And Canada Travel Market Report Highlights
List of Key Players in the U.S. And Canada Travel Market
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