Tourism Destination Market Insights - North America 2020

Tourism Destination Market Insights - North America 2020

  • July 2020 •
  • 44 pages •
  • Report ID: 5948647 •
  • Format: PDF
Tourism Destination Market Insights - North America 2020

Summary
This insight report includes an analysis of source markets, infrastructure and attractions, and assesses the risks and opportunities for North America as a destination market.

key Highlights

- Over half of all trips taken by Americans (53%) and Mexicans (58%), and almost half by Canadians (49%), are typically visiting friends and family for vacation, according to 2019 Q3 consumer survey. This has resulted in North Americans travelling internationally 29.9 million times in 2019 for VFR purposes. International VFR tourism is expected to grow at a CAGR of 3% over the next five years, resulting in 34.7 million international trips to visit friends and family by 2024.
- In 2019, the US welcomed 78.9 million international tourists, a YOY decrease of -1.3%. There are a number of reasons that could of contributed to this decline in in tourism.
- In 2019, Canada welcomed 22.2 million tourists, a YOY increase of 1.2 million. There has been positive growth in Canada over the last five years, with a CAGR of 6.1% between 2014 and 2019, an increase of 5.7 million. Growth is expected to decrease slightly over the next five years, however, there will still be a positive CAGR of 4.9%.
- International arrivals to Mexico have seen positive growth over the past five years. Between 2014 and 2019, there has been a CAGR of 8.8%, with an additional 3.7 million tourists arriving in the last year.

Scope
- This report is part of Destination Market Insights Series. These reports provide an in-depth analysis of a tourist destination and its key source markets, as well as an assessment of the trends and issues in the covered destniantion market, in this case North America.

Reasons to Buy
- Obtain a clear and detailed insight into new developments in popular, well-established and upcoming tourist destinations.
- Use data and analysis to explore future trends related to international arrivals, airlines, niche tourism, and hotel developments.
- Gain a strong understanding of the opportunities in the market, as well as the risks, to support better business decisions.
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