Published on 2 May 2024 on Insider Monkey via Yahoo Finance
In this article, we shall discuss the 30 most fun cities in the US in 2024. To skip our detailed analysis of the tourism industry in the US in 2024, go directly and see 10 Most Fun Cities in the US in 2024.
US Travel Industry Outlook 2024: Major Trends
Although data from the WTTC demonstrates that global travel will amount to a $15.5 trillion industry by 2033 and account for more than 11.6% of the global economy, a report by Bloomberg sheds light upon the fact that the American tourism industry is plummeting. Persisting staffing shortages, visa delays and political turbulence has caused the United States to trail competitors in reclaiming its share of international tourists post the COVID-19 pandemic. As major markets around the world are expecting to exceed 2019 figures by the end of 2024, the US travel segment is projected to reach 98% of 2019 visitation levels by the end of the year. Tourist spending levels in some of the most fun cities in the US in 2024, when adjusted for inflation, are not projected to see any recovery until late 2026. According to forecasts by the US Travel Association, headwinds perpetrated by a global macroeconomic slowdown, a strong dollar exacerbating inflationary pressures in middle-income countries, and slow bureacratic proceduralism are inhibiting future growth of the US travel industry. Other competitors in the market - like France and Spain - have increased their share of the global travel market. To read more on trends affecting the global travel industry, check out our coverage of 35 Most Visited Countries in the World in 2024: 2024 Rankings.