From 2013 to 2019, internal tourism expenditure on sports and recreation services in the US exhibited a generally positive trend, peaking at $93.96 billion in 2018. However, the sudden and sharp decline in 2020, dropping to $37.21 billion, marked a significant impact due to unforeseen events, likely the COVID-19 pandemic. The recovery phase began in 2021 with a 72.67% increase, and by 2023, expenditure levels had rebounded to $92.07 billion. The year-on-year variation for 2022 and 2023 showed strong growth at 25.73% and 13.97%, respectively. The 5-year CAGR from 2018 to 2023 remained negative at -0.40%, reflecting the lingering effects of the pandemic.
Looking ahead, forecasted data indicates a relatively stable upward trend from 2024 to 2028, with a projected 5-year CAGR of 0.41%, suggesting moderate growth. The total value is expected to reach $94.47 billion by 2028, reflecting a continued recovery and stabilization.
Future trends to watch for include:
- Potential impacts of economic fluctuations and consumer confidence on discretionary spending.
- Technological advancements and their influence on the sports and recreation sector.
- Shifts in travel patterns and the long-term effects of the pandemic on tourism behavior.
- Economic policy changes and their effects on the broader tourism and recreation industry.
