The internal tourism consumption of passenger transport supporting services in the US has experienced fluctuations in recent years. In 2023, the value stood at approximately 716.9 billion USD. From 2013 through 2016, the market saw a generally declining trend. A notable recovery began in 2017 with a substantial increase that continued until 2019. However, 2020 saw a significant dip attributable to the global pandemic, followed by a gradual recovery from 2021 onwards.
Recent year-on-year variations indicate a stabilizing market with a 4.5% growth in 2023, slowing slightly compared to the preceding years. The five-year CAGR leading up to 2023 has been marginally negative at -0.72%, indicating moderate but steady recovery and growth.
Future trends to watch for:
• Increasing advancements in transportation technology and sustainability initiatives.
• Potential economic fluctuations or policies impacting domestic travel.
• Shifts in consumer preferences towards more sustainable or luxurious transport options.
• Technological disruptors like autonomous and electric vehicles.
• Ongoing adaptation of services in response to changes in tourism patterns post-pandemic.
