Global travel & tourism market is expected to reach US$ 13,556.4 billion by 2027

According to a new market report, the global travel & tourism market is expected to reach US$ 13,556.4 billion by 2027, expanding at a CAGR of 5.2% from 2019 to 2027. The market is categorized into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America.The travel & tourism market in North America is a mature and organized market and the second largest in the world. As per the UNWTO Report 2018, the number of international tourist arrivals in North America increased from 97.1 million in 1995 to 174.0 million in 2017.The U.S. travel & tourism market is the largest, the most organized and mature market in North America.