Over the past decade, the inbound tourism expenditure on transport equipment rental services in the US has experienced notable fluctuations. Following a peak of $382.0 million in 2013, there was a significant decline over the next few years, reaching its lowest in 2015 with $202.0 million. A slight recovery occurred in 2018 and continued until 2020, when expenditure peaked again at $357.0 million. Since then, we have seen a general downward trend, with a notable decrease in value, standing at $291.01 million in 2023. The last two years witnessed marginal declines of 1.41% in 2022 and 1.25% in 2023.
Looking forward, the forecast suggests a continued but moderate decrease over the next five years, with a CAGR of -0.65%, reaching $278.51 million by 2028. Future trends to watch for include potential changes in travel behavior post-pandemic, technological advancements in rental services, and regulatory developments impacting the tourism and transport sectors. Additionally, economic conditions, fuel price volatility, and shifts in consumer preferences toward eco-friendly transport solutions could significantly influence inbound tourism expenditure trends in this sector.
