In 2023, the travel and tourism sector in the United States contributed approximately 2.36 trillion U.S. dollars to gross domestic product (GDP). This figure saw growth over the pre-pandemic levels of 2019 when the travel and tourism sector contributed 2.27 trillion U.S. dollars to the North American country's economy.

In 2024, Panama was estimated to be the most tourism-dependent economy in Latin America, with the sector accounting for 15.3 percent of its gross domestic product (GDP). El Salvador followed in the ranking that year, with a share of tourism contribution to GDP above 15 percent too.

This statistic shows the contribution of travel and tourism to GDP in the United States from 2013 to 2017, by type. Travel and tourism directly contributed approximately *** billion U.S. dollars to the U.S. economy in 2017.

The average for 2020 based on 125 countries was 3.33 percent. The highest value was in Aruba: 43.39 percent and the lowest value was in Guinea: 0.01 percent. The indicator is available from 1995 to 2020. Below is a chart for all countries where data are available.

Tourism Revenues in the United States decreased to 21229 USD Million in May from 21636 USD Million in April of 2025. This dataset provides - United States Tourism Revenues- actual values, historical data, forecast, chart, statistics, economic calendar and news.

As per the latest findings of Future Market Insights, the USA and Canada tourism revenue is expected to be US$ 172,331.2 Million by the end of 2023. In the long-term, the market is estimated to reach at a valuation of around US$ 253,839.3 Million in 2033.

Scope of Report

Key information about United States Tourism Revenue Growth

• United States Tourism Revenue grew 9.7 % YoY in Dec 2024, compared with an increase of 9.2 % YoY in the previous month
• United States Tourism Revenue Growth rate data is updated monthly, available from Jan 2000 to Dec 2024
• The data reached an all-time high of 163.0 % in Apr 2022 and a record low of -80.8 % in Sep 2020

Graph and download economic data for Gross Domestic Product: Private Industries: Transportation and Warehousing: Air Transportation for United States Metropolitan Portion (NGMPAIRTRANUSMP) from 2001 to 2016 about metropolitan portion, air travel, travel, warehousing, transportation, private industries, private, industry, GDP, and USA.

In 2023, the share of travel and tourism's total contribution to global gross domestic product (GDP) showed a decline of 1.3 percentage points compared to 2019, the year before the COVID-19 pandemic. Overall, these industries represented 9.1 percent of the global GDP in 2023. That year, the total contribution of travel and tourism to the global GDP amounted to nearly 10 trillion U.S. dollars. The impact of COVID-19 on global travel and tourism The lockdowns and travel restrictions enforced across the globe to limit the spread of COVID-19 turned travel and tourism upside down. In 2023, the number of travel and tourism jobs worldwide experienced a sharp annual increase, but was still slightly below pre-pandemic levels. Meanwhile, total travel and tourism spending worldwide followed a similar trend. International tourist arrivals still lagged pre-pandemic levels After sinking in 2020 to the lowest point recorded since 1989, the number of international tourist arrivals worldwide bounced back in 2022, then rose further in 2023. That said, it remained below the peak of nearly 1.5 billion reported in 2019. Both before and after the impact of the health crisis, Europe was the global region with the highest number of international tourist arrivals.

Graph and download economic data for Real Gross Domestic Product: Private Industries: Transportation and Warehousing: Air Transportation for United States Metropolitan Portion (RGMPAIRTRANUSMP) from 2001 to 2016 about metropolitan portion, air travel, travel, warehousing, transportation, private industries, private, real, industry, GDP, and USA.

According to Cognitive Market Research, the global Travel and Tourism Spending market size is USD 14845295.6 million in 2024 and will expand at a compound annual growth rate (CAGR) of 6.00% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 5938118.24 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 4453588.68 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 3414417.99 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD 742264.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 296905.91 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031.
The Couple Traveler held the highest Travel and Tourism Spending market revenue share in 2024.

Market Dynamics of Travel and Tourism Spending Market

Key Drivers of Travel and Tourism Spending Market

Growing Disposable Income and Middle-Class Expansion to Increase the Demand Globally

The Travel and Tourism Spending Market is being significantly driven by the rise in disposable income and the expanding middle class in emerging economies. As more people enter the middle-income bracket, there is a noticeable shift in spending patterns towards leisure activities, including travel and tourism. This trend is particularly evident in countries like China, India, Brazil, and several Southeast Asian nations, where rapid economic growth has lifted millions out of poverty and into the middle class. The increasing affordability of travel, coupled with aspirations for new experiences and exposure to different cultures, is fueling the demand for tourism services and experiences.Another key driver for the Travel and Tourism Spending Market is the rapid advancement of technology and digitalization. The travel industry has undergone a profound transformation with the advent of the internet, smartphones, and various digital platforms. These technologies have made travel planning more accessible, convenient, and personalized, influencing consumer behavior and preferences. Online booking platforms, travel apps, and social media have revolutionized how people research, book, and share their travel experiences. Additionally, technologies such as virtual reality (VR) and augmented reality (AR) are enhancing the travel experience by offering immersive previews of destinations and attractions, further driving the demand for travel and tourism services.

Restraint Factors Of Travel and Tourism Spending Market

Economic Uncertainty and Exchange Rate Volatility to Limit the Sales

One of the key restraints affecting the Travel and Tourism Spending Market is economic uncertainty and exchange rate volatility. Fluctuations in exchange rates can affect the cost of travel, particularly for international tourists. A strong currency in the destination country can make travel more expensive for foreign visitors, leading to a decline in tourism spending. Similarly, economic downturns or recessions can result in reduced disposable income and consumer confidence, leading individuals to cut back on discretionary spending, including travel and tourism. Economic instability in key source markets can also impact outbound travel, affecting the overall tourism industry.

Trend Factor for the Travel and Tourism Spending Market

There is a shift in demand toward experiential, sustainable, and digital-first travel. 

Fueled by an increasing demand for tailored and meaningful travel experiences, the market for travel and tourism expenditures is going through a rapid shift. Instead of typical sightseeing itineraries, contemporary tourists are more and more opting for immersive experiences like culinary tourism, adventure travel, cultural discovery, and well-being retreats. With more customers choosing eco-friendly lodging, carbon-neutral travel options, and ethical tourism practices, sustainability has also become a major consideration in decision-making. Digital payment methods, mobil...

In 2023, the United States was the country worldwide with the highest total contribution of travel and tourism to GDP. That year, the total GDP contribution of travel and tourism in the U.S. amounted to **** trillion U.S. dollars, exceeding pre-pandemic levels. China and Germany followed in the ranking in 2023, with travel and tourism's total contributions to GDP of around *** trillion and *** billion U.S. dollars, respectively. Overall, the total contribution of travel and tourism to GDP worldwide reached almost ** trillion U.S. dollars in 2023. What are the most visited countries worldwide? While the U.S. and China reported the highest figures in terms of travel and tourism contribution to GDP in 2023, it was a European destination that led the ranking of countries with the highest number of inbound tourist arrivals worldwide. With *** million international arrivals in 2023, France was the most visited travel destination in the world that year, ahead of Spain, the United States, and Italy. How many people work in the global travel and tourism sector? After declining sharply due to the impact of COVID-19, the number of travel and tourism jobs worldwide bounced back in 2023, reaching around *** million, nearly catching up with pre-pandemic levels. That year, China and India were the countries with the highest travel and tourism employment worldwide.

Graph and download economic data for Quantity Indexes for Real GDP: Private Industries: Transportation and Warehousing: Air Transportation for United States Metropolitan Portion (QGMPAIRTRANUSMP) from 2001 to 2016 about metropolitan portion, air travel, quantity index, travel, warehousing, transportation, private industries, private, real, industry, GDP, and USA.

In 2023, agriculture contributed around 0.58 percent to the United Kingdom’s GDP, 17.5 percent came from the manufacturing industry, and 72.53 percent from the services sector. The UK is not a farmer’s marketThe vast majority of the UK’s GDP is generated by the services sector, and tourism in particular keeps the economy going. In 2017, almost 214 billion British Pounds were contributed to the GDP through travel and tourism – about 277 billion U.S. dollars – and the forecasts see an upwards trend. For comparison, only an estimated 10.3 billion GBP were generated by the agriculture sector in the same year. But is it a tourist’s destination still? Though forecasts are not in yet, it is unclear whether travel and tourism can keep the UK’s economy afloat in the future, especially after Brexit and all its consequences. Higher travel costs, having to wait for visas, and overall more complicated travel arrangements are just some of the concerns tourists have when considering vacationing in the UK after Brexit. Consequences of the referendum are already observable in the domestic travel industry: In 2017, about 37 percent of British travelers said Brexit caused them to cut their holidays short by a few days, and about 14 percent said they did not leave the UK for their holidays because of it.

In 2024, the share of travel and tourism's total contribution to global gross domestic product (GDP) showed a decline of *** percentage points compared to 2019. Overall, the travel and tourism market represented ** percent of the global GDP in 2024. That year, the total contribution of travel and tourism to the global GDP amounted to almost ** trillion U.S. dollars. What is the contribution of travel and tourism to employment? In 2024, the total number of travel and tourism jobs worldwide exceeded pre-pandemic levels, with global travel and tourism employment surpassing *** million. This figure, which refers to jobs generated directly and indirectly by the travel and tourism sector, was forecast to grow further in 2025. How many people travel every year? After sinking in 2020 to the lowest point recorded since 1989, the number of international tourist arrivals worldwide caught up with pre-pandemic levels in 2024, reaching almost *** billion. Both before and after the impact of the COVID-19 pandemic, Europe was the global region with the highest number of international tourist arrivals.

Travel services (% of service exports) of United States of America jumped by 5.40% from 18.4 % in 2023 to 19.4 % in 2024. Since the 10.68% drop in 2021, travel services (% of service exports) shot up by 117.87% in 2024. Travel covers goods and services acquired from an economy by travelers for their own use during visits of less than one year in that economy for either business or personal purposes. Travel includes local transport (i.e., transport within the economy being visited and provided by a resident of that economy), but excludes international transport (which is included in passenger transport. Travel also excludes goods for resale, which are included in general merchandise.

United States Hospitality Industry Market size was valued at USD 15.31 Billion in 2024 and is projected to reach USD 23.68 Billion by 2031, growing at a CAGR of 5.6% from 2024 to 2031.United States Hospitality Market DriversThe market drivers for the United States Hospitality Market can be influenced by various factors. These may include:Economic conditions: The hotel industry is strongly impacted by the nation's overall economic health, which includes variables like GDP growth, employment rates, and consumer spending. People travel more and spend more on hotel services when the economy is doing well.Travel trends: The demand for hospitality services in particular locations may be influenced by shifting travel patterns, such as an increase in domestic or international travel, the rise of bleisure travel (combining business and leisure vacations), and the popularity of particular places.Technological developments: To improve customer experiences, increase operational efficiency, and customize services, the hotel sector is progressively implementing technology. Keyless entrance, personalized recommendations, and smartphone check-in are examples of trends that can affect customer preferences.Regulatory environment: The hospitality sector may be impacted by government laws and regulations, such as those pertaining to taxes, labor laws, and visa requirements. The competitiveness of the market and operating expenses might be impacted by regulatory changes.Consumer preferences: Shifts in the hospitality business can be driven by changes in consumer preferences, which can affect the kinds of services and amenities that are in demand. Examples of these shifts include a growing interest in wellness tourism, sustainable travel, or unique experiences.Rivalry: Pricing strategies and client loyalty may be impacted by the degree of rivalry in the hospitality industry, which includes the existence of well-known brands, fresh competitors, and alternative accommodation options like Airbnb.Global crises and events: The hospitality industry may be significantly impacted by events like health pandemics, natural disasters, geopolitical unrest, or economic downturns, which can alter demand and travel patterns.

In 2024, the finance, insurance, real estate, rental, and leasing industry contributed the highest amount of value to the GDP of the U.S. at 21.2 percent. The construction industry contributed around four percent of GDP in the same year.

In 2023, German tourists in Denmark spent nearly 20 million overnight stays in total, placing their country as the second-largest source market for overnight tourism in the neighboring nation, behind Danish domestic travelers. By a wide margin, the following most popular countries of origin among tourists in Denmark were the Netherlands and Norway. Denmark: smallest but most touristic country in Scandinavia As a consequence of the COVID-19 impact on tourism worldwide, the number of tourist overnight stays registered in Denmark went back down to levels recorded at the beginning of the 2010s. This setback, however, did not affect Denmark’s place as the most visited destination in the Nordic region; in 2020, Denmark accounted for 60 percent of overnight stays made by international tourists in those countries. How does tourism contribute to the Danish economy? In the last year, travel and tourism contributed more than 100 billion Danish kroner to Denmark’s gross domestic product (GDP)—or around 16.4 billion U.S. dollars based on the exchange rates of December 31, 2020. With a GDP worth approximately 350 billion U.S. dollars, this sector represents a small share of the country’s economy. Nonetheless, thousands of Danish families depend on the over 180 thousand jobs that it generates.

In 2022, the direct impact of business travel in the U.S. economy amounted to more than 200 billion U.S. dollars. Meanwhile, the induced impact – the spending of business travel-related workers' wages on the local economy – amounted to nearly 160 billion U.S. dollars.