Tourism Market Regional Analysis:
North America Market Insights
The North America tourism market is projected to account for a remarkable revenue share between 2026 and 2035. According to a report published by the UN Tourism in October 2024, the top 10 searched destinations were the U.S., Canada, and Mexico. Other than this, the Travel and Tourism Development Index by the World Economic Forum in 2023, the U.S. garnered rank 1 for the top places for travel and tourism. Foreigners visit the U.S. to witness natural wonders, historic landmarks, and entertainment venues. According to the U.S. Travel Association, travel accounted for USD 1.3 trillion in direct spending in 2024, producing an economic footprint of USD 2.4 trillion.
Europe Market Insights
The tourism market in Europe is gaining significant traction due to the presence of rich cultural experiences. As Europe is a treasure trove of historical sites, landmarks, museums, etc., travel enthusiasts are willing to visit Europe. According to data released by the European Union in January 2024, the projected number of nights spent at the prominent tourist spots in the region reached 2.99 billion. Additionally, according to the World Travel & Tourism Council in May 2024, the EU’s travel and tourism sector reached USD 1.65 trillion. Also, Europe dominates the top 10 economies for travel and tourism, ranked by Travel and Tourism Development Index by the World Economic Forum. The top 10 European Nations were Spain, France, Germany, the United Kingdom, Italy, Switzerland, Portugal, Austria, the Netherlands, and Finland.
