Domestic leisure travel spending has already surpassed pre-pandemic levels, while business travel is gaining traction and is expected to reach 81% of pre-pandemic levels this year. Analysts expect robust travel demand despite the soaring inflation and declining consumer sentiment.
Moreover, Commerce Secretary Gina Raimondo recently announced a new National Travel and Tourism Strategy to support the U.S. travel and tourism industry. The U.S. Travel & Tourism market revenue is expected to grow at a CAGR of 4.7% to reach $211.10 billion by 2026.
