Find stats on top websites
Industry Landscape
The US travel and tourism industry is experiencing a robust recovery, driven by increased leisure travel and a resurgence in business events. While challenges like inflation and labor shortages persist, strong consumer demand and technological advancements in trip planning are fostering continued growth. Regional variations exist, with urban centers seeing renewed interest.
Total Assets Under Management (AUM)
Travel and Tourism GDP Contribution in United States
~US$2.02 trillion (2023 estimate)
(10.4% CAGR)
- Domestic travel remains a significant driver.
- International visitor spending is rebounding strongly.
- Business travel and MICE (Meetings, Incentives, Conferences, Exhibitions) sector showing significant recovery.
Total Addressable Market
US$2.02 trillion
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-Powered Personalization
Utilizing artificial intelligence to offer highly customized travel recommendations and itineraries based on user preferences and past behavior.
Virtual and Augmented Reality (VR/AR) Experiences
Creating immersive digital experiences for potential visitors to explore Detroit's attractions remotely and enhance on-site visits.
Blockchain for Secure Transactions and Loyalty
Leveraging blockchain technology for transparent and secure booking systems, digital passes, and loyalty programs.
Impactful Policy Frameworks
Great Lakes Protection Act (various amendments)
Ongoing federal and state initiatives to protect and restore the Great Lakes ecosystem, impacting water quality, coastal development, and recreational access.
These policies can influence tourism activities related to water-based recreation and impose environmental compliance requirements on tourism-related businesses.
Digital Accessibility Laws (e.g., ADA compliance for websites)
Federal laws like the Americans with Disabilities Act (ADA) are increasingly interpreted to include digital accessibility, requiring websites and online services to be accessible to individuals with disabilities.
Visit Detroit must ensure its website and digital platforms comply with accessibility standards to avoid legal challenges and serve a broader audience.
Short-Term Rental Regulations (e.g., Michigan State and Local Ordinances, 2022-2023)
Various Michigan municipalities and the state legislature are implementing regulations on short-term rentals (e.g., Airbnb, Vrbo), addressing issues like zoning, licensing, taxation, and neighborhood impact.
These regulations can affect the availability and cost of accommodation options in Detroit, influencing both visitor choices and local hospitality businesses.
Transform Your Ideas into Action in Minutes with WaxWing
Sign up now and unleash the power of AI for your business growth
