In 2021 and 2022, pandemic-related travel restrictions controlled the travel industry’s performance, and the removal of these restrictions led to robust sales growth. China’s decision in January 2023 to remove all remaining restrictions on international travel was a watershed moment that marked the end of major travel restrictions related to the COVID-19 pandemic.
Demand for air travel remained consistently high in the US over the first half of 2023. One of the key drivers of air travel demand has been the recovery of international travel.
2023 has marked a critical year for lodging in the US. While sales recovered in current terms in 2022, US lodging sales are set to surpass the 2019 values in constant terms in 2023.
Travel intermediaries have been seeing strong growth from US residents in 2023. Intermediaries have traditionally been seen as a budget-friendly option for travellers.
The state of the economy will have the largest impact on the US travel industry over the next five years. The US continues to face uncertainty over the potential for an economic recession.
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Travel
Travel encompasses several categories including tourism flows, lodging, travel modes, in-destination spending and booking.
See All of Our DefinitionsThis report originates from Passport, our Travel research and analysis database.
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