The combination of an improving US economy, a strong US dollar, and higher GDP growth has created positive spending patterns in travel among US consumers. With GDP growth currently at 2.5% for 2015, and, according to the World Bank, set to increase to 2.8% in 2016, outbound trips will reflect this economic improvement with a 4.4% increase expected in 2016. With such a favorable economic climate, Canadean expects Americans to choose outbound holidays more often, reaching nearly 90 million by 2020.
Although Americans are traveling more than ever due to the improving economy, their holiday choices have remained conservative with familiar top destinations of Mexico and Canada continuing to be the most popular choices for the past decade. However, both China and Germany have appeared to increase their appeal to US visitors, most likely as both are significant trading hubs for the US.
Transport accounts for the highest amount of outbound spending among Americans, with over 31% of overall outbound expenditure going on transportation costs. While aviation prices remain high in the US, this has not affected outbound expenditure, which has increased to US$238.9 billion in 2015, an increase of 5.4% on last year’s figures.
With a positive economic outlook, Canadean expects this to reach US$309.4 billion by 2020.
Canadean’s report – “Source Market Insights: USA” provides detailed information on the American outbound tourism sector, analyzing market data and providing insights. This report provides a better understanding of tourism flows, expenditure, and the airline, hotel, car rental, and travel intermediaries industries.
What else does this report offer?
Detailed market analysis, information, and insights, including:
Historic and forecast tourist volumes and values covering America’s outbound tourism sector
Detailed analysis of tourist spending patterns for various categories in the travel and tourism sector, such as purpose of spending and top source markets.
Detailed analysis of the market trends in USA’s outbound tourism sector.
Reasons To Buy
Make strategic business decisions using historic and forecast market data related to America’s Outbound Travel & Tourism sector
Understand the demand-side dynamics within the industry to identify key market trends and growth opportunities
Direct the promotional efforts on most promising markets by identifying the key source and destination countries