U.S. tourism spending abroad is highest in the world in 2021
With an average per capita expenditure of $3,580, the we The source market is expected to be the most valuable in the world in terms of average outbound tourism spending in 2021, according to the latest forecast.
Industry analysts note that the willingness of we market to devote significant amounts of its disposable income to international travel could help spur the recovery of many destinations around the world.
The latest thematic report reveals that, among the top 10 outgoing destinations for the we market in 2021, six would be classified as long-haul destinations, as the average flight duration is over six hours.
The increased demand for long-haul destinations is being driven by the substantial levels of disposable income that many we travelers have. In fact, the United States has more millionaires than any other country. In 2021, the number of American citizens who were worth between 1 and 1.5 million dollars is expected to be 237.4% higher than that of China, which ranks second.
The average length of stay for international travel from the US market was 18 days in 2021, showing that Americans will stay in a destination for a long time. This point adds to the attractiveness of American travelers for destinations around the world.
According to industry analysts, global outbound tourist spending is expected to grow at a compound annual growth rate (CAGR) of 22% between 2021 and 2024, with spending eventually surpassing pre-pandemic levels by 2024.
American travelers will be one of the driving forces of this recovery, as their dollars will be sent to different continents, contributing to the economic recovery internationally.
Europe is particularly popular with Americans. The culture and gastronomy of countries like France and Italy are major pull factors. However, a high quality sun and beach product is essential for many.
According to the most recent data, 42% of US respondents said they usually take sun and beach vacations, which was the most popular type of trip. These common preferences indicate which aspects of a tourism product Destination Management Organizations (DMOs) should market to this lucrative market.
The US market’s high average outbound spending, willingness to travel long-haul, tendency to stay for long periods of time, demand for a range of different experiences and a significant number of affluent individuals mean it will drive the recovery of international tourism.