Passenger Water Transportation Services Tourism Output in the US showed a steady growth from 2013 to 2019, with annual increases ranging between 1.46% and 5.64%. In 2020, there was a significant decline of 15.05% due to the pandemic. The sector started recovering in 2021 with a growth rate of 10.89%, further accelerating to 13.51% in 2022. In 2023, the output reached $16.79 billion, a 2.08% increase from the previous year. The average annual growth rate (CAGR) over the last five years was 1.62%.
Future trends to watch for include:
- Continued recovery and stabilization post-pandemic.
- Potential impacts of environmental regulations and sustainability initiatives.
- Technological advancements in tourism services.
- Changing consumer preferences and increase in eco-tourism.