The domestic tourism expenditure on railways passenger transport services in the US saw notable fluctuations over the last decade. In 2023, the value stood at 2.99 billion USD, marking a 20.96% increase from the previous year. This followed a sharp drop in 2020 due to the pandemic, with a strong recovery from 2021 onwards. A CAGR of 2.73% from 2018 to 2023 indicates steady growth. Looking ahead, forecasted data from 2024 to 2028 suggests continued growth with an average annual increase of 2.27%, reaching up to 3.45 billion USD by 2028, reflecting a five-year growth rate of 11.88%.
Future trends to watch for include:
- Technological advancements in railway systems
- Government investments in public transport infrastructure
- Shifts in consumer preferences towards sustainable travel options
