As per Future Market Insights (FMI), the U.S. outbound tourism market is poised to reach a valuation of US$ 101,697.0 Mn in 2022. Sales are projected to increase at a 16.3% CAGR between 2023 and 2033, totaling around US$ 458,986.8 Mn by 2032.
Rise in corporate travel, introduction of new attractive tour and travel packages by leading companies, and growing popularity of medical tourism due to increasing preference of many Americans to opt for treatments across countries like India, Japan, and China due to lower treatment costs are some of the key factors driving the U.S. outbound tourism market
The term medical tourism describes those who travel overseas for medical care. In the past, this primarily applied to individuals who travelled from less developed nations to important medical facilities in highly developed nations for treatment that was not available there. But in recent years, it may also be used to describe those who move from industrialized to developing nations in search of less expensive medical care.
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Due to the affordable travel and access to cutting-edge cosmetic surgery, many American patients fly to South or Central American nations like Costa Rica, Argentina, or Brazil for cosmetic procedures. Patients from the United States who require primary and dental care frequently travel to Mexico.
As Americans travelled to countries in Central America, including Costa Rica, for dental care that wasn’t covered by insurance, “Dental Tourism” quickly took off. Dental work makes up around 40% of the current medical tourism from the U.S., according to estimates. For high-quality dental care at around half the cost, American medical tourists frequently travel to Costa Rica. According to the Medical Tourism Association, the majority of American patients receive healthcare in Mexico or India.
Modern amenities are currently available in nations like Thailand and India for life-saving procedures like heart surgery and hip or knee replacements. Singapore, Belgium, and South Africa are a few other well-liked locations. For affordable medical and dental care, many people from the U.S. to various other regions of the world. This will boost the U.S. outbound tourism market during the projection period.
Similarly, growing interest among the American population to spend their leisure time exploring the beauty and culture of other nations, especially developing ones, is expected to aid in the expansion of the U.S. outbound tourism market over the next ten years.
Key Takeaways from the U.S. Outbound Tourism Market Study:
- The U.S. outbound tourism market is expected to grow at 16.3% CAGR through 2032.
- The top three tourist destinations for U.S. outbound tourism are Mexico, Peru, and Colombia.
- Business travels and medical tourism are the most popular purpose types in the U.S. outbound tourism market
- Based on booking channel, the online booking segment leads the U.S. outbound tourism market.
- By age group, the 26-35 years’ segment contributes most to the U.S. outbound tourism market.
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“With increasing number of business trips and booming medical tourism, the U.S. outbound tourism market is set to witness remarkable growth during the next ten years,” – says a lead FMI analyst.
Who is Winning?
Key players operating in the U.S. outbound tourism market include Butterfield & Robinson, Expedia Inc., Priceline Group, America Express Global Business Travel, BCD Travel, Carlson Wagonlit Travel, HRG North America, FC U.S., America Express Travels, Travel Leaders Group.
It is common knowledge that every traveler has different needs and expectations while making travel plans. Only when a travel agency satisfies the needs and preferences of the traveler will it be recognized and held to the highest standards in the industry. As a result, companies are continuously introducing new attractive packages to woo more and more customers.
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Future Market Insights, in its new offering, provides an unbiased analysis of the U.S. Outbound Tourism Market presenting historical demand data (2017-2021) and forecast statistics for the period from 2022 to 2032. The study divulges compelling insights on the U.S. Outbound Tourism Market based on Purpose Type (Business, Holiday/Leisure, VFR & Others) Booking Channel (Online Travel Agents, Traditional Agents, and Direct Booking), Tourism Type (Cultural & Heritage Tourism, Medical Tourism, Eco/Sustainable Tourism, Sports Tourism, Wellness Tourism & Others), Tour Type (Independent Traveller, Package Traveller, and Tour Group), By Age Group (15-25 Years, 26-35 Years, 36-45 Years, 46-55 Years, and 66- 75 Years) & Region – Forecast to 2017 – 2032.
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The U.S. Outbound Tourism Market by Category
By Purpose Type:
- Business
- Holiday/Leisure
- VFR & Others
By Booking Channel:
- Phone Booking
- Online Booking
- In Person Booking
By Tourism Type:
- Cultural & Heritage Tourism
- Medical Tourism
- Eco/Sustainable Tourism
- Sports Tourism
- Wellness Tourism & Others
By Tour Type:
- Independent Traveller
- Package Traveller
- Tour Group
By Age Group:
- 15-25 Years
- 26-35 Years
- 36-45 Years
- 46-55 Years
- 66-75 Years
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