In 2023, the Accommodation and Food Services gross output in the US was significantly lower than the projected $1.3235 trillion in 2024. The sector is forecasted to progressively increase, anticipating $1.4548 trillion by 2028. The forecast illustrates a steady upward trend, with a notable compound annual growth rate (CAGR) from 2024 to 2028, reflecting a consistent year-on-year expansion.
Future trends to watch for include:
- The impact of technology on operational efficiencies and customer experiences.
- Shifts in consumer preferences towards sustainable and health-focused services.
- The influence of economic factors such as inflation and labor market changes.
- The potential effect of travel and tourism recovery post-pandemic.
Latest reports
US Tourism Market Report- Q4 2024
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Japan Tourism Market Report- Q4 2024
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Germany Tourism Market Report- Q4 2024
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India Tourism Market Report- Q4 2024
In Q4 2024, the Indian tourism industry experienced a dynamic shift, driven by varying market segments and external economic conditions. This period was...
UK Tourism Market Report- Q4 2024
The UK tourism industry in Q4 2024 demonstrates a dynamic environment shaped by technological advancements, economic pressures, and evolving consumer preferences. Key market...
France Tourism Market Report- Q4 2024
Q4 2024 has been a dynamic period for the tourism sector in France, characterized by evolving trends and significant regulatory developments that are...
Canada Tourism Market Report- Q4 2024
In the fourth quarter of 2024, the Canadian tourism industry shows a nuanced recovery, with a noticeable increase in domestic travel due to...
South Korea Tourism Market Report- Q1 2025
The first quarter of 2025 witnessed dynamic changes in the Tourism South Korea market, driven by various economic and geopolitical factors. Inbound tourism...
Australia Tourism Market Report- Q4 2024
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