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

The size of the United States and Canada educational tourism market was USD 34.5 billion in 2025 and is anticipated to grow at a 12.9% CAGR during the period 2025 to 2035.

Country-wise analysis

Competitive Outlook

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Business Travel Market Size 2025-2029

The business travel market size is forecast to increase by USD 4867.6 billion, at a CAGR of 38.3% between 2024 and 2029.

The market is experiencing significant shifts, driven by the increasing adoption of advanced technologies and the evolving preferences of consumers. Technological innovations, such as online travel agencies and digital booking platforms, are revolutionizing the way businesses plan and manage their travel arrangements. This trend is further fueled by the growing popularity of online video conferencing platforms, enabling remote work and virtual meetings, thereby reducing the need for extensive business travel. Meanwhile, challenges persist in the form of data security concerns and complex travel policies. With the rise of digital booking platforms, ensuring secure transactions and protecting sensitive business data becomes paramount.
Additionally, managing complex travel policies across diverse teams and locations can be a daunting task, requiring robust solutions to streamline the process and maintain compliance. Companies seeking to capitalize on the opportunities presented by the evolving business travel landscape must focus on addressing these challenges effectively, while leveraging technology to enhance travel management efficiency and productivity.

What will be the Size of the Business Travel Market during the forecast period?

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The market continues to evolve, with dynamic market activities shaping the landscape across various sectors. Premium economy travel and loyalty programs are increasingly popular, offering enhanced comfort and rewards for frequent business travelers. Flight booking and travel procurement platforms streamline the process, while travel agent services provide expert assistance. Eco-friendly travel options gain traction, aligning with sustainability initiatives. Travel reporting and analytics enable effective business travel management, ensuring policy compliance and cost control. Business class travel, travel concierge services, and ground transportation options cater to the needs of corporate travelers.

Travel technology advances, integrating travel policy compliance, travel risk management, and expense management systems. Bleisure travel, frequent flyer programs, travel rewards, and travel technology further enrich the business travel experience. The ongoing unfolding of market activities underscores the importance of staying informed and adaptable in this ever-evolving landscape.

How is this Business Travel Industry segmented?

The business travel industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Marketing
  Internal meeting
  Trade show
  Product launch


Type

  Travel fare
  Lodging
  Dining
  Others


Service Type

  Transportation (Air, Rail, Car)
  Accommodation
  Meetings and Events


Booking Type

  Online Travel Agencies
  Direct Bookings
  Corporate Travel Management Companies


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan


  South America

    Brazil


  Rest of World (ROW)

By Application Insights

The marketing segment is estimated to witness significant growth during the forecast period.

Business travel plays a pivotal role in the international marketing efforts of both small and large enterprises. This involves employees traveling to overseas markets to promote products and services, expand customer bases, and build brand reputation. Travel itinerary management and security are essential considerations to ensure the safety and productivity of business travelers. Duty of care and traveler tracking are crucial components of travel risk management, while travel insurance provides financial protection. Travel consolidators offer cost savings through bundled services, including flights, ground transportation, hotels, and car rentals. Carbon offsetting and eco-friendly travel options are increasingly important for companies committed to sustainability.

Travel data analytics enable businesses to make informed decisions on travel procurement and policy compliance. Premium economy travel and business class offerings cater to the needs of frequent travelers, while loyalty programs and travel rewards provide incentives. Travel technology, including travel booking platforms and expense management systems, streamline the travel process. Airport lounges and travel concierge services enhance the travel experience. First class travel and corporate travel policies cater to execut

Both before and after the travel related impacts of the coronavirus (COVID-19) pandemic, the United States was the leading outbound travel market in Canada based on the share of tourist departures. In 2022, travelers from the U.S. accounted for 59 percent of all tourist departures in Canada. Mexico and France followed in the ranking that year, representing seven and four percent of outbound tourist departures, respectively.

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Luxury Travel Market Size 2025-2029

The luxury travel market size is forecast to increase by USD 519.6 billion, at a CAGR of 6.7% between 2024 and 2029. The market is experiencing significant growth, fueled by the increasing disposable incomes of consumers worldwide. This trend is particularly noticeable in emerging economies, where a growing affluent class seeks unique and exclusive travel experiences.

Major Market Trends & Insights

APAC dominated the market and accounted for a 29% share in 2023.
The market is expected to grow significantly in Europe region as well over the forecast period.
Based on the Type, the adventure segment led the market and was valued at USD 498.10 billion of the global revenue in 2023.
Based on the Consumer, the domestic segment accounted for the largest market revenue share in 2023.

Market Size & Forecast

Market Opportunities: USD 1.36 Trillion
Future Opportunities: USD 519.6 Billion
CAGR (2024-2029): 6.7%
APAC: Largest market in 2023

A notable development in this market is the rise of sports tourism, as travelers increasingly seek to combine their love for adventure and athleticism with luxury travel. Culinary tourism is another popular trend, with travelers exploring rich cultures through diverse food and beverage experiences. Wellness tourism, including spa experiences and adventure tourism, is also gaining popularity. However, this market is not without challenges. Inconsistent service quality poses a significant obstacle, as travelers expect impeccable service and attention to detail in the luxury travel sector.

Providers must address this issue to maintain customer satisfaction and loyalty. Additionally, the market is highly competitive, with a growing number of players vying for a share of the market. Companies must differentiate themselves through exceptional service, innovative offerings, and a deep understanding of their customers' desires to succeed in this dynamic and evolving market.

What will be the Size of the Luxury Travel Market during the forecast period?

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The market continues to evolve, with various sectors experiencing dynamic growth and innovation. Private yacht charters, for instance, have seen a surge in demand, with a recent study indicating a 10% increase in bookings year-over-year. This trend is driven by the desire for exclusivity and personalized experiences, as well as the appeal of travel security and privacy. Another area of growth is luxury travel technology, which enhances the overall travel experience through innovative applications such as virtual concierge services and real-time itinerary management. Moreover, luxury family travel is gaining popularity, with bespoke itineraries and in-destination services catering to the unique needs of families. The personalised segment is the second largest segment of the type and was valued at USD 366.80 billion in 2023.

Luxury expedition cruises and wellness travel retreats also represent significant market opportunities. The former offers adventurous travelers a chance to explore remote destinations in style and comfort, while the latter provides a rejuvenating escape from the hustle and bustles of daily life. Furthermore, responsible and sustainable luxury travel is becoming increasingly important, with travelers seeking to minimize their carbon footprint and support local communities. This trend is reflected in the growing popularity of eco-luxury travel and luxury tour operators that prioritize sustainable practices. The luxury travel industry is expected to grow at a steady pace, with estimates suggesting a 5% annual growth rate over the next decade.

This growth is driven by a combination of factors, including the increasing affluence of the global population, a growing appreciation for unique and personalized experiences, and the continued evolution of technology in the travel sector. For instance, a high-end hotel chain reported a 15% increase in bookings for their luxury villa rentals last year, as travelers sought out more exclusive and personalized accommodations. This trend is expected to continue, as travelers increasingly demand bespoke experiences that cater to their individual preferences and needs. In conclusion, the market is a dynamic and evolving space, with various sectors experiencing growth and innovation.

From private yacht charters and luxury travel technology to sustainable luxury travel and personalized travel experiences, there is a wealth of opportunities for businesses to cater to the unique needs and desires of affluent travelers.

How is this Luxury Travel Industry segmented?

The luxury travel industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the peri

The North America travel retail market is poised for significant growth in the coming years, driven by a surge in international tourism and disposable income. The market size is projected to reach $X million by 2033, expanding at a CAGR of XX% from 2025 to 2033. The favorable economic climate, coupled with the increasing popularity of duty-free shopping, is expected to fuel the growth of the market. Major trends influencing the market include the rise of e-commerce, the increasing demand for personalized experiences, and the growing popularity of sustainable products. The market is segmented by retail activity type (fashion and accessories, jewelry and watches, wine & spirits, food & confectionary, fragrances and cosmetics, tobacco, others), distribution channel (airports, airlines, ferries, other), and geography (USA, Canada). Key players in the market include 3Sixty, International Shoppes, Stellar Partners, Aer Rianta International North America, Duty-Free Americas Inc, Dufry, DFS Group, Heinemann Americas, The Nuance Group (Canada) Inc, and ALFA Brands Inc. Recent developments include: June 2021- 3Sixty Duty Free has partnered with Global Crossing Airlines to allow travellers to purchase a range of travel retail products via their onboard inflight duty free programme., April 2021- Hudson Group has revealed its first-of-a-kind, multi-brand automated retail concept. Driven by the Dufry-owned company's ongoing commitment to enhancing the traveller experience and leveraging digital innovation, the new automated retail concept aims to create a contactless, 24/7 retailing destination.. Notable trends are: Airport Retailing is Generating Higher Revenues than other Channels in North America Travel Retail Market..

The North America hotels market is projected to reach a value of $40.16 billion by 2033, growing at a CAGR of 8.50% during the forecast period (2025-2033). The growth of the market is attributed to the increasing number of business travelers, rising disposable income, and growing tourism industry in the region. Additionally, the increasing popularity of online travel agencies and the growing trend of staycations are also contributing to the growth of the market. The market is segmented on the basis of service type and geography. In terms of service type, the market is divided into business hotels, airport hotels, suite hotels, resorts, and others. The business hotels segment is expected to hold the largest share of the market during the forecast period. This is due to the growing number of business travelers in the region. In terms of geography, the market is divided into the United States of America, Canada, and Mexico. The United States of America is expected to hold the largest share of the market during the forecast period. This is due to the large number of tourists and business travelers in the country. Recent developments include: July 2023: Choice Hotels acquired Radisson Hotel Group Americas. The deal was worth around $675 million, and with this deal, Choice Hotels acquired nine new brands, 624 hotels, and over 67,000 rooms., November 2022: Hyatt Hotel Corporation and Dream Hotel Group reached an agreement whereby Hyatt acquired Dream Hotel Group's lifestyle hotel brand and management platform, including the Dream Hotels, Chatwal Hotels, and Unscripted Hotels brands, with properties in some of the world's most prominent hotel markets across the Americas, Europe, and Asia., October 2022: Marriott International reached an agreement with Hoteles City Express, S.A.B. de C.V., to acquire the highly regarded City Express brand portfolio. The portfolio comprises 152 hotels, including 17,356 rooms across 75 cities in Mexico and three additional countries in Latin America. With this acquisition, Marriott is poised to become the largest hotel company in the Caribbean and Latin America, expanding its presence significantly in secondary and tertiary markets in the region.. Key drivers for this market are: Growing Popularity of Museums, Historical Sites, Zoos and Park is driving the Market Growth, Digitalized Experiences is Driving the Market. Potential restraints include: Distinct institutional cultures and values, Adapting to the changes in technology is tough for the Institutions. Notable trends are: North America Dominates the Luxury Hotel Segment Globally.

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Travel Technologies Market Size 2025-2029

The travel technologies market size is forecast to increase by USD 6.29 billion, at a CAGR of 9.5% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing use of smartphones and mobile applications in travel planning and booking. This trend is transforming the industry, enabling real-time booking, price comparisons, and personalized recommendations. Another key driver is the rise of Artificial Intelligence (AI) and Machine Learning (ML) in the travel sector, which is enhancing customer experiences through personalized services and predictive analytics. However, the market also faces challenges. Security and piracy concerns continue to pose significant threats to travel technologies. As travelers increasingly rely on digital platforms for booking and managing their trips, ensuring the security of their personal information becomes paramount.
Additionally, the risk of piracy and data breaches can result in significant financial and reputational damage for travel companies. Addressing these challenges through robust cybersecurity measures and implementing data protection policies will be crucial for companies seeking to capitalize on the opportunities presented by the market.

What will be the Size of the Travel Technologies Market during the forecast period?

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The market continues to evolve, with dynamic innovations shaping the industry landscape. Leisure travel planning and business trips are increasingly being facilitated by advanced technologies, including travel itinerary management systems, cloud-based solutions, and personalized travel recommendations. Travel insurance services and flight search engines streamline the booking process, while travel content marketing engages consumers with compelling stories and visuals. Destination management systems and hotel reservation systems have become essential tools for travel industry professionals, enabling seamless organization and optimization of travel experiences. Mobile travel apps and mobile payments offer convenience and flexibility, while travel metasearch engines help consumers compare offerings across various platforms.

Travel industry partnerships and travel technology integration have become key drivers of growth, with companies collaborating to offer integrated solutions. Biometric authentication and accessibility features enhance the travel experience for all passengers. Travel marketing automation, sustainable tourism solutions, travel influencer marketing, and travel affiliate marketing are among the emerging trends shaping the market. The ongoing integration of these technologies across various sectors underscores the continuous evolution of the market, as companies strive to meet the evolving needs and expectations of consumers and industry professionals alike.

How is this Travel Technologies Industry segmented?

The travel technologies industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Travel industry
  Tourism industry
  Hospitality industry


Product

  Global distribution system
  Airline and hospitality IT solutions


Type

  Leisure
  Business
  Group


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  Middle East and Africa

    UAE


  APAC

    China
    India
    Japan


  South America

    Brazil


  Rest of World (ROW)

.

By Application Insights

The travel industry segment is estimated to witness significant growth during the forecast period.

The travel industry is a significant contributor to the market, introducing innovative solutions that optimize and improve the travel experience. This sector comprises various technologies, including travel loyalty programs, hotel reservation systems, mobile travel apps, and destination management systems, among others. The market's expansion in the travel industry segment is driven by the increasing number of online travel agencies (OTAs). These platforms have transformed the way people plan and book trips by offering personalized recommendations and tailored options based on user preferences. Travel technology investment continues to grow, with advancements in travel metasearch engines, mobile payments, and biometric authentication enhancing the overall travel experience.

Travel industry partnerships and travel influencer marketing are also playing a crucial role in shaping travel trends. Furthermore, sustainable tourism solutions and cloud-based travel solutions are gaining popularity as consumers demand more eco

The Canadian Tourism Commission (CTC) began conducting the annual Global Tourism Watch (GTW) program in 2007 to expand consumer-based intelligence in its core markets. The study approach has changed slightly for 2012 and 2013, the sixth and seventh years of the program, with the GTW being conducted in approximately one half of the markets in one year and the other half in the next. This new cycle will allow the CTC and its partners to maintain an up to date pulse on all key markets, while, at the same time, focusing on fewer individual countries in any given year creating some cost efficiencies. Eight markets were included for 2012: Canada, the US, the UK, Germany, Australia, China, South Korea, and Brazil. In 2013, the study will be conducted in six countries – Japan, France, Mexico and India in addition to Canada and the US. The overall objectives of the GTW study are to: Monitor awareness, travel intentions, and other key market indicators for Canada and the regions; Assess perceptions of Canada and track brand performance against the competitive set over time; Identify the general experiences sought by travellers, assess Canada’s competitive positioning on key products and identify growth opportunities; Identify motivators and barriers for travel to Canada; and, New for 2012: Explore the role of social media and advocacy in the tourism context.

The global adventure travel market, encompassing diverse trip types and destinations, presents a significant opportunity for operators like Run Away Travel. While precise market size figures for Run Away Travel are unavailable, we can extrapolate based on the overall market dynamics. Let's assume a global adventure travel market size of $150 billion in 2025, growing at a Compound Annual Growth Rate (CAGR) of 8% (a reasonable estimate given the sector's resilience and growth potential). This implies a substantial market, projected to reach approximately $240 billion by 2033. Run Away Travel's market share within this landscape depends on several factors including branding, marketing effectiveness, target customer segment, and operational efficiency. Considering the competitive landscape populated by established players like Intrepid Travel, G Adventures, and Contiki, alongside niche operators focusing on specific demographics (e.g., Wild Women Expeditions, Best Single Travel), Run Away Travel's success hinges on its ability to differentiate itself and capture a distinct market segment. Focus on specific niches (like sustainable travel, luxury adventure, or a unique travel style) can help carve a profitable niche. Geographical diversification across regions like North America (particularly the US and Canada, given their strong outbound travel propensity), Europe (with its rich historical and cultural attractions), and Asia-Pacific (with emerging markets showing increasing interest in adventure travel) will be crucial for achieving significant growth. Data suggests strong demand for both road trips and intrepid journeys, implying the potential to capture significant market share within these segments. Run Away Travel's success hinges on effectively leveraging market trends toward sustainable and experiential travel, while carefully managing potential restraints such as economic fluctuations, geopolitical instability, and environmental concerns. By focusing on strong branding, strategic partnerships, and innovative service offerings, Run Away Travel can position itself for robust growth within the burgeoning adventure travel market. Effective digital marketing and customer relationship management are also critical for building brand loyalty and reaching target customer segments. Analyzing competitor strategies and identifying unmet needs within the market will be crucial for designing a successful long-term business plan.

North America Travel Retail Market is Segmented By Product Type (Fashion and Accessories, Jewelry and Watches, Wine & Spirits, Food & Confectionery, Fragrances and Cosmetics, Tobacco, Others (Stationery, Electronics, etc.)), By Distribution Channel (Airports, Airlines, Ferries, Other(Railway Stations, Border, Downtown)) and By Geography (United States and Canada).

Access North America Travel Size Toiletries Industry Overview which includes North America country analysis of (United States, Canada, Mexico), market split by Type, Application, Distribution Channel, Packaging

In 2023, the country with the most inbound arrivals to the United States was its neighbor Canada, at 31 percent, showing clear growth over 2019. Mexico and the United Kingdom followed in the ranking that year, representing 22 and six percent of international arrivals, respectively.

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Travel Insurance Market Size 2025-2029

The travel insurance market size is forecast to increase by USD 14.09 billion at a CAGR of 10.8% between 2024 and 2029.

The market experiences robust growth driven by the increasing trend of unconventional travel experiences and the rising number of business trips. As more individuals seek adventure and exploration beyond traditional tourist destinations, the demand for comprehensive travel insurance policies covering unforeseen expenses, such as medical emergencies, trip cancellations, and lost or stolen belongings, continues to escalate. However, market expansion faces challenges. Lack of awareness and delayed claims processing are significant obstacles, hindering potential growth. Regulatory hurdles impact adoption in certain regions, while supply chain inconsistencies temper growth potential.
Moreover, personal travel accident insurance is gaining popularity as travelers seek coverage for unconventional expenses, such as trip cancellations, medical emergencies, and car rental damages. Companies seeking to capitalize on market opportunities must prioritize enhancing customer awareness through targeted marketing efforts and streamlining claims processing to ensure a positive customer experience. By addressing these challenges and focusing on innovation, travel insurance providers can effectively navigate the competitive landscape and meet the evolving needs of their clientele.

What will be the Size of the Travel Insurance Market during the forecast period?

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The market dynamics and trends reveal a significant growth trajectory in the United States, driven by the increasing demand for coverage in emerging markets and customized offerings for various traveler profiles. Travel insurance technology, including AI-powered solutions for policy comparison and real-time travel alerts, plays a pivotal role in this expansion. Policy terms are evolving to cater to diverse traveler needs, with senior travel insurance and family travel insurance gaining popularity. Travel safety remains a top priority, leading to the integration of emergency evacuation services and insurance regulations to mitigate risks. Digital insurance and travel technology are transforming the industry, offering convenience and enhanced policy coverage.
Travel insurance innovation continues to address unique customer requirements, such as add-ons for adventure sports and bundled solutions for comprehensive protection. Insurance regulations and fraud prevention measures are increasingly important in the travel insurance landscape, ensuring transparency and trust for businesses and consumers alike. Travel insurance sales are expected to grow as businesses recognize the value of offering travel insurance as part of their employee benefits packages. Despite these advancements, travel insurance disruptions, such as pricing fluctuations and underwriting challenges, persist and require ongoing attention from industry stakeholders. Travel insurance exclusions remain a concern, with transparency and clear communication essential for managing customer expectations.
In summary, the market in the US is experiencing a period of dynamic change, driven by emerging markets, customized offerings, and technological innovation. Travel safety, insurance regulations, and fraud prevention are key considerations for businesses looking to capitalize on this growing market.

How is this Travel Insurance Industry segmented?

The travel insurance industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Senior citizens
  Business travel
  Family travel
  Others


Type

  General travel insurance
  Premium travel insurance


Product Type

  Single-trip
  Annual multi-trip
  Long-stay


Distribution Channel

  Insurance company
  Bank
  Online travel agency
  Airlines
  Others


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By End-user Insights

The senior citizens segment is estimated to witness significant growth during the forecast period.

Travel insurance plans cater to the unique needs of senior citizens, providing coverage for age-related and health-related concerns not typically included in standard policies. In some instances, countries require visitors to purchase insurance as a prerequisite for obtaining a visa. AIG is one example of an insurer offering medical coverage for COVID-19 expenses for seniors traveling outside their home country. Travel insurance for seniors can offer protection against various risks, such as medical emergencies, theft of belongings, and more, depending on the chosen

The global travel insurance market, valued at $23.31 billion in 2025, is projected to experience robust growth, exhibiting a Compound Annual Growth Rate (CAGR) of 15.40% from 2025 to 2033. This expansion is fueled by several key drivers. The rising popularity of international travel, particularly among millennials and Gen Z, who are more likely to embrace adventurous trips, significantly contributes to market growth. Furthermore, increasing awareness of unforeseen travel disruptions, like flight cancellations, medical emergencies abroad, and lost luggage, drives demand for comprehensive coverage. The shift towards online booking platforms and the growing adoption of travel insurance bundled with flight and hotel packages also contribute to market expansion. While economic downturns might temporarily restrain growth, the inherent risk associated with international travel ensures consistent demand for insurance products. The market is segmented by coverage type (single-trip vs. annual multi-trip), product type (cancellation/delay, medical, personal accident, and others), and distribution channel (insurance companies, intermediaries, banks, brokers, and others). The diverse product offerings cater to various travel styles and risk tolerances, fostering market segmentation and specialization. Competitive dynamics within the travel insurance market are intense, with major players like Allianz, AIG, Generali, Aviva, AXA, and others vying for market share. These established players leverage their global reach and brand recognition to maintain dominance. However, the market also sees the emergence of niche players specializing in specific travel segments or offering innovative digital solutions. Geographic variations exist, with North America and Europe currently representing larger market segments due to higher travel frequency and disposable income. However, rapid economic growth and increasing outbound travel in regions like Asia-Pacific and Latin America are expected to drive substantial market expansion in these areas during the forecast period. The market will likely see further innovation in product design, such as personalized coverage options and enhanced digital customer experiences, to cater to the evolving needs and preferences of travelers. Recent developments include: In March 2024, Allianz SpA completed the acquisition of the Italian insurance and reinsurance company Tua from Assicurazzioni Generali SpA for an agreed price of EUR 280 million. The transaction was first announced on October 12th, 2023., In May 2023, InsureMyTrip is now offering travel insurance in Canada. Traveling Canadians and visitors to Canada can now go online at insuremytrip.ca to compare, quote, and buy travel insurance from the best travel insurance providers in the country. With the launch of insuremyTrip.ca, the website is set to become the go-to travel insurance comparison website in Canada., In February 2023, Vistara formed a partnership with Allianz Partners to offer optional travel insurance to its passengers. Customers can now opt for travel insurance during the booking process for both domestic and international flights.. Key drivers for this market are: Role of Social Media in Fueling the Global Travel Insurance Market, Growing International Travelers and Changing Demographics Drive Demand. Potential restraints include: Role of Social Media in Fueling the Global Travel Insurance Market, Growing International Travelers and Changing Demographics Drive Demand. Notable trends are: Single-journey Travel Insurance Driving the Travel Insurance Market.

The Canadian Tourism Commission (CTC) began conducting the annual Global Tourism Watch (GTW) program in 2007 to expand consumer-based intelligence in its core markets. In 2009, the third year of the program, the GTW was implemented in ten markets – Canada, the US, Mexico, the UK, France, Germany, Australia, Japan, China and South Korea. The Year 3 research was co-funded by a regional partner group that included British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Québec, Atlantic Canada, Yukon and Northwest Territories. The GTW program was designed to monitor and report on key market indicators for Canada, track brand performance and examine Canada's market positioning over time, and across all core markets, in a consistent way. The overall objectives of the GTW study are to: monitor key performance indicators, track response to Brand Canada, identify and track product opportunities and provide input into strategic market plans.

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Metaverse Market in Travel and Tourism Market Size 2024-2028

The metaverse market in travel and tourism market size is forecast to increase by USD 155.17 billion at a CAGR of 26.76% between 2023 and 2028. In the dynamic realm of technology, the metaverse market in travel and tourism is experiencing significant growth. Key drivers include the surging demand for great technologies such as Augmented Reality (AR) and Virtual Reality (VR), which offer unprecedented experiential opportunities for travelers. Furthermore, the metaverse's application in travel and tourism is on the rise, with developments in this sector revolutionizing the way we explore and experience destinations. However, this burgeoning market is not without challenges. High development costs associated with AR and VR applications pose a significant barrier to entry for many players. Despite these hurdles, the metaverse's potential to transform travel and tourism is undeniable, making it an exciting and innovative space to watch.

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The market in the Travel and Tourism industry is experiencing significant advancements with the integration of Augmented Reality (AR), Virtual Reality (VR), and Mixed Reality (MR) technologies. Metaverse devices such as VR headsets, MR headsets, smart glasses, and smart helmets are transforming the gaming experience for tourists, offering tailored metaverses and digital twins for great exploration. Investments in the Metaverse sector are on the rise, driven by the potential for additional revenue and deployable use cases in the travel industry. The medical sector is also exploring the benefits of Metaverse technology for training and simulation purposes. Advancements in 3D modeling and the use of Unreal Engine are enhancing the realism and interactivity of Metaverse experiences.

However, challenges such as eye strain, dizziness, nausea, myopia, low resolution, and virtual sickness remain concerns for users. Electromagnetic frequency emissions from Metaverse devices are another issue that requires attention. As the Metaverse market continues to evolve, timelines for human resource development and business performance optimization will be crucial for success. Blockchain technology is expected to play a role in securing transactions and ensuring data privacy in the Metaverse travel and tourism market. Overall, the Metaverse market holds immense potential for innovation and growth in the travel industry.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for 2024-2028, as well as historical data from 2018-2022 for the following segments.

Application

  AR
  MR
  Blockchain
  XR
  VR


Component

  Hardware
  Software
  Services


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK


  APAC

    China


  South America



  Middle East and Africa

By Application Insights

The AR segment is estimated to witness significant growth during the forecast period. The metaverse market in travel and tourism is experiencing significant advancements with the integration of Augmented Reality (AR), Virtual Reality (VR), and Mixed Reality (MR) technologies. According to industry estimates, this sector is expected to witness substantial growth, driven by the adoption of HMDs (Head-Mounted Displays) such as VR headsets, MR headsets, smart glasses, and smart helmets. These technologies offer tailored metaverses for travelers, providing great gaming experiences and personalized explorations. Investments in the metaverse market are on the rise, with developments in the medical sector showcasing digital twins, blockchain, artificial intelligence (AI), and machine learning (ML) for healthcare providers.

Furthermore, advancements in programming and cybersecurity concerns are being addressed to ensure negligence and oversight are minimized. AR and VR technologies are revolutionizing traveler experiences by enabling real-time navigation and information, simplifying exploration in unfamiliar locales. The convergence of these technologies with AI and ML offers personalized experiences, enhancing traveler engagement. However, concerns regarding health effects, cybersecurity, regulations, defined standards, taxation, and experiential training are being addressed to ensure a seamless and safe user experience. For instance, preflight checks, integration, weapon training, and flight training simulations are being developed to ensure safety and efficiency in various sectors. In summary, the metaverse market in travel and tourism is undergoing significant advancements, driven by the adoption of AR, VR, and MR technologies, investments, and tailored metaverses. Addressing concerns regarding health effects, cybersecurity, regulations, and defined standards is crucial for the continued growth and success of this s

The Canadian Tourism Commission (CTC) began conducting the annual Global Tourism Watch (GTW) program in 2007 to expand consumer-based intelligence in its core markets. In 2011, the fifth year of the program, the GTW was implemented in 12 markets – Canada, the US, Mexico, the UK, France, Germany, Australia, Japan, China, South Korea, Brazil and India. The 2011 research was co-funded by a regional partner group that included Alberta, British Columbia, Manitoba, Ontario, Québec, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut and Yukon. The GTW program was designed to monitor and report on key market indicators for Canada, track brand performance and examine Canada's market positioning over time, and across all core markets, in a consistent way. The overall objectives of the GTW study are to: monitor key performance indicators, track response to Brand Canada, identify and track product opportunities and provide input into strategic market plans.

The US travel accommodation market, a significant segment of the global industry, is experiencing robust growth, projected to reach $47.10 billion in 2025 and maintain a Compound Annual Growth Rate (CAGR) exceeding 7.00% through 2033. This expansion is fueled by several key factors. Increased disposable incomes, coupled with a growing preference for leisure travel and experiential tourism, are driving demand. Technological advancements, such as user-friendly booking platforms and personalized travel recommendations, are enhancing the booking experience and attracting a wider customer base. The rise of short-term rentals, facilitated by platforms like Airbnb, presents a compelling alternative to traditional hotels, further diversifying the market. However, economic fluctuations, geopolitical instability, and potential future health crises could pose challenges to sustained growth. The market is segmented by platform type (mobile applications and websites) and booking mode (third-party online portals and direct/captive portals). Major players such as Booking.com, Expedia, Hotels.com, and Airbnb dominate the competitive landscape, constantly innovating to enhance their offerings and capture market share. The US market, representing a substantial portion of the global market, exhibits diverse regional variations reflecting differing tourism patterns and economic conditions across states. Future growth will depend on sustained economic performance, effective management of tourism infrastructure, and the adaptation of industry players to evolving consumer preferences and technological developments. The success of the US travel accommodation market is inextricably linked to broader economic trends and consumer behavior. The market's resilience to external shocks will be tested in the coming years, making strategic adaptability a crucial factor for sustained success. Growth strategies for companies operating in this market should focus on leveraging technology to improve the customer experience, diversifying their offerings to cater to a wider range of travelers, and proactively managing risk associated with economic uncertainty and external factors. Focusing on sustainable tourism practices and environmentally friendly options will also attract environmentally conscious travelers and further enhance the sector's growth prospects. Analyzing consumer preferences through effective data analytics will provide a competitive edge, allowing companies to refine their services and accurately forecast demand. Recent developments include: September 2023: Philippine Airlines launched PAL Holidays powered by Expedia Group, a one-stop travel website that offers travelers a seamless and comprehensive platform for all their travel needs. The new site is now live in the US, Canada, Australia, and the Philippines. The new platform is powered by Expedia Group’s White Label Template technology. It is designed to help passengers effortlessly plan and book their entire journey, including PAL flights, hotels, transportation, and exciting travel activities, all in one convenient location., March 2023: Expedia Group announced a new API partnership with Wheel the World, a travel booking platform for accessible travelers in wheelchairs, effectively enhancing a seamless, end-to-end travel experience for travelers with disabilities. Through Expedia Group’s Rapid API technology, Wheel the World customers will have access to Expedia Group’s extensive directly sourced hotel inventory with the ability to filter properties by their accessibility needs and preferences.. Key drivers for this market are: Airbnb in United States is Dominating the Market, The US Online Accommodation Market is Booming due to an Increase in Domestic Trips. Potential restraints include: Airbnb in United States is Dominating the Market, The US Online Accommodation Market is Booming due to an Increase in Domestic Trips. Notable trends are: Rise in the Number of Visitors in California.

The North American hotels market, encompassing the United States, Canada, and Mexico, is a substantial and dynamic sector. With a 2025 market size of $40.16 billion and a projected Compound Annual Growth Rate (CAGR) of 8.50% from 2025 to 2033, significant expansion is anticipated. This growth is fueled by several key drivers. Increased tourism, both domestic and international, particularly within the US, contributes significantly. The rise of business travel, particularly in major metropolitan areas, further boosts demand. Additionally, the increasing popularity of leisure travel and the expansion of the middle class in North America contribute to the market's expansion. The market is segmented by service type (business hotels, airport hotels, suite hotels, resorts, and others) and geographic location. The US commands the largest market share due to its robust economy and extensive tourism infrastructure. Canada and Mexico, while smaller, also contribute significantly, particularly benefiting from tourism and proximity to the US. Competitive pressures from established players like Marriott, Hilton, and Hyatt, as well as emerging boutique hotels and independent operators, shape market dynamics. While the market outlook is positive, certain restraints exist. Economic downturns can impact business and leisure travel, reducing hotel occupancy rates. Seasonal variations in tourism also influence demand. Furthermore, rising construction costs and labor shortages pose challenges for new hotel development. However, the industry's adaptability, with innovations like enhanced technology integration and sustainable practices, mitigates these risks. The market's continued growth is strongly projected, driven by the factors mentioned above, despite these challenges. The forecast suggests a steady increase in market value throughout the 2025-2033 period, reflecting the market's overall strength and resilience. Specific regional breakdowns within North America require more granular data but the overall trend points towards continued robust growth. Recent developments include: July 2023: Choice Hotels acquired Radisson Hotel Group Americas. The deal was worth around $675 million, and with this deal, Choice Hotels acquired nine new brands, 624 hotels, and over 67,000 rooms., November 2022: Hyatt Hotel Corporation and Dream Hotel Group reached an agreement whereby Hyatt acquired Dream Hotel Group's lifestyle hotel brand and management platform, including the Dream Hotels, Chatwal Hotels, and Unscripted Hotels brands, with properties in some of the world's most prominent hotel markets across the Americas, Europe, and Asia., October 2022: Marriott International reached an agreement with Hoteles City Express, S.A.B. de C.V., to acquire the highly regarded City Express brand portfolio. The portfolio comprises 152 hotels, including 17,356 rooms across 75 cities in Mexico and three additional countries in Latin America. With this acquisition, Marriott is poised to become the largest hotel company in the Caribbean and Latin America, expanding its presence significantly in secondary and tertiary markets in the region.. Notable trends are: North America Dominates the Luxury Hotel Segment Globally.