The number of overseas visitors using hotels and motels in the US has shown a consistent upward trend from 2013, standing at 34.95 million units in 2023. Year-on-year growth peaked in 2015 at 9.37% but has gradually slowed, with a 2.26% increase from 2022 to 2023. From 2019 to 2023, the Compound Annual Growth Rate (CAGR) averaged 2.47%. Forecasts indicate a continued increase, reaching 38.59 million units by 2028, with a 5-year forecast CAGR of 1.56%, reflecting a somewhat decelerated yet steady growth trajectory.
Future trends to watch for:
- Potential impact of global economic conditions on travel budgets and overseas visits.
- The influence of geopolitical stability on international travel.
- Technological advancements in the travel and tourism industry, enhancing travel experiences and accommodation bookings.
- Changes in travel policies and visa regulations post-pandemic.
- Shifts in consumer preferences towards sustainable and eco-friendly accommodations.
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