Market Size of Online Travel Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 235 Billion |
| Market Size (2029) | USD 375.04 Billion |
| CAGR (2024 - 2029) | 9.80 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Online Travel Market Analysis
The Online Travel Market size is estimated at USD 235 billion in 2024, and is expected to reach USD 375.04 billion by 2029, growing at a CAGR of 9.80% during the forecast period (2024-2029).
The North American online travel market has showcased its strength by generating significant revenue this year and is poised to maintain a robust trajectory in the forecast period. A key driver behind the market's impressive performance is the flourishing hospitality industry, which has led to an increase in transactions. In the United States, the market benefits from a growing influx of international leisure travellers and a simultaneous rise in domestic business travel, resulting in a thriving online travel landscape. Similarly, Canada also experiences a dynamic online travel market driven by millennial preferences and an increasing number of international travellers, reflecting the region's diversity. The Canadian market distinguishes itself with a mix of globally recognized brands and their collaborative operating partners.
Recent market drivers and opportunities further underscore the growth potential of the North American online travel market. Technological advancements, offering personalized travel experiences, and the evolving trend towards sustainable and experiential tourism are key factors propelling the market forward. These drivers create avenues for expansion, ensuring the market stays attuned to changing consumer demands and preferences, contributing to its sustained growth and competitiveness.
