Remarkably, in 2022, U.S. travelers continued to assign greater value to travel when compared to other discretionary expenditures like home improvements, dining/nightlife and electronics.

According to Phocuswright’s latest travel research report U.S. Travel Market Report 2022-2026, the U.S. travel market grew by 51% to $422 billion in 2022, becoming the first major travel market globally to surpass its 2019 size.

Good news continues with research showing that all segments registered double-digit revenue increases in 2022.

The following chart shows Total Travel Market, Share by Segment, 2022 and 2026 including: airline, hotel & lodging, car rental, cruise, packaged travel, rail and other.