Research Insights 7 key takeaways from the latest U.S. travel market research

7 key takeaways from the latest U.S. travel market research

July 2023
Phocuswright Research

Remarkably, in 2022, U.S. travelers continued to assign greater value to travel when compared to other discretionary expenditures like home improvements, dining/nightlife and electronics.

According to Phocuswright’s latest travel research report U.S. Travel Market Report 2022-2026, the U.S. travel market grew by 51% to $422 billion in 2022, becoming the first major travel market globally to surpass its 2019 size.

Good news continues with research showing that all segments registered double-digit revenue increases in 2022.

Here are 7 takeaways from Phocuswright’s latest research:

The U.S. travel market has seen 51% growth YoY - 7 key takeaways from each segment of U.S. travel


Phocuswright Chart: Total Travel Market by Segment
(Click image to view a larger version.) 

U.S. Travel Market Report 2022-2026 and the entire report series features an overview of the U.S. travel market, along with detailed data and analysis of five key segments: airline, hotel & lodging, car rental, cruise and packaged travel. A standalone report dedicated to online travel agencies rounds out the coverage. Collectively, the series provides comprehensive market sizing and projections for the U.S. travel industry from 2019-2026, including analysis of key segments, share and trends, distribution and recovery dynamics by segment, and more.

Also available in the U.S. Travel Market Report 2022-2026 series:

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