U.S. And Canada Travel Market To Reach $2,452.6 Billion By 2030

U.S. And Canada Travel Market Growth & Trends

The U.S. and Canada travel market size is expected to reach USD 2,452.6 billion by 2030, registering a CAGR of 7.8% from 2025 to 2030, 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 2024. 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.

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U.S. And Canada Travel Market Report Highlights

• U.S. emerged as the largest market in the year 2024. This trend is expected to continue over the forecast period as Americans are gradually resuming international travel.

• Leisure travel accounted for a revenue share of over 33% in 2024, driven by increased disposable spending by consumers in the U.S. and Canada. And business travel is projected to grow at a CAGR of 8.8% from 2025 to 2030.

• The travel market for the 41-60 age group accounted for over 42% of the revenue share in 2024, And the travel market for the 21-30 age group is projected to grow at a CAGR of 8.6% from 2025 to 2030.

• The penetration of budget-friendly travel trends among consumers across the U.S. and Canada is likely to complement the segment growth.

• Value-driven trips and brands that are built on affordability and convenience are becoming increasingly popular, especially among millennial and younger travelers, which is supporting the segment growth.

U.S. And Canada Travel Market Segmentation

Grand View Research has segmented the U.S. and Canada travel market based on type, age group, tourist type, and country:

U.S. And Canada Travel Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Leisure Travel

• Business Travel

• Cruise

• Specialty/Activity/Sports

• VFR (Visiting Friends and Relatives)

U.S. And Canada Travel Age Group Outlook (Revenue, USD Billion, 2018 - 2030)

• 21-30 Years

• 31-40 Years

• 41-60 Years

• 60 and Above

U.S. And Canada Travel Tourist Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Domestic

• International

U.S. And Canada Travel Country Outlook (Revenue, USD Billion, 2018 - 2030)

• U.S.

• Canada

List of Key Players in the U.S. And Canada Travel Market

• Expedia, Inc.

• Booking Holdings Inc.

• American Express Global Business Travel (GBT)

• TCS World Travel

• Abercrombie and Kent USA, LLC

• Exodus Travels Ltd.

• BCD Travel

• Intrepid Travel

• Topdeck Travel Ltd.

• Trafalgar