Forecast: Internal Tourism Consumption of Accommodation Services for Visitors in the US

The US Internal Tourism Consumption of Accommodation Services for visitors exhibits a consistent growth trend from 2013 to 2019, peaking in 2019 with values increasing annually, albeit at varying rates. The year-on-year variation shows a significant drop in 2020 due to the pandemic, resulting in a decrease of 35.11% from the previous year. However, a strong recovery occurs in 2021, with a notable 30.8% increase followed by a sustained growth in 2022 and 2023, reaching a value of $245.16 billion in 2023. The compound annual growth rate (CAGR) over the last five years (2019-2023) averages at 2.25%, indicating moderate, yet steady growth.

Future forecasts suggest continued growth through 2028 with an average annual increase of 1.92%, reflecting a stable, albeit slower, growth rate compared to pre-pandemic years. By 2028, the internal tourism consumption value is projected to reach $276.75 billion, representing an overall growth of 9.99% over the five-year forecast period.

Future trends to watch for include the impact of evolving consumer preferences towards sustainable and personalized accommodations, technological advancements in the booking and customer service processes, and potential disruptions from geopolitical and economic factors. Monitoring these trends will be crucial for stakeholders looking to capitalize on emerging opportunities and mitigate risks in the tourism accommodation market.