The United States remained the largest Travel & Tourism market in the world in 2025 but is losing market share according to the World Travel & Tourism Council’s (WTTC) latest Economic Impact Research, sponsored by its Lead Research Partner, Chase Travel.

While 2025 saw the best year ever for the Travel & Tourism sector in terms of GDP growth of 4.1%, the story was very different for North America, which was the slowest-growing region globally, rising just 1.0%, and by only 0.9% in the U.S.

80 million more people travelled internationally in 2025 compared with the year before yet they chose other destinations. U.S. visitor numbers declined 5.5% against 2024 and international visitor spending fell 4.6% to US$176 billion.

While the U.S. continues to lead in scale, contributing US$2.63 trillion to global GDP, WTTC highlights that the country is now at a crossroads in its tourism development. With the right actions, it has a significant opportunity to restore international visitor spending, sustain job creation, and strengthen its global leadership - particularly as competition intensifies from fast-rising markets in Asia Pacific, such as China.

In 2025, the Travel & Tourism sector in the U.S. supported 20.4 million jobs, up 1.2% year-on-year, and added approximately 242,000 new jobs, a positive signal for both the sector and the wider economy. Domestic visitor spending remained strong at US$1.54 trillion, up 0.3% year-on-year and 14.3% above pre-pandemic levels.

Sustaining this momentum will depend on increasing investment and promotion of the United States, rebuilding international demand, changing perception and ensuring the U.S. remains competitive as a global destination.

With the country set to co-host major football events in 2026, WTTC highlights a significant and immediate opportunity. The event is expected to bring around 1.24 million international visitors during the tournament period, offering a powerful platform to showcase the American experience, and convert visitors into promoters of travel to the country.

China, the second largest market in the world, is rapidly gaining ground, with Travel & Tourism contributing US$1.75 trillion to GDP in 2025, growing 9.9% year-on-year and supporting 84.6 million jobs (+2.0%). Both international visitor spending (up 10.5% to US$135 billion) and domestic spending (up 10.7% to US$890 billion) saw strong gains.

This momentum reflects the broader strength of Asia-Pacific, now the fastest-growing Travel & Tourism region globally. The region’s GDP grew 8.2% in 2025 to reach US$3.29 trillion, with several markets outperforming the global average, led by Malaysia (11.2%) and the Philippines (10.8%), followed by China (9.9%), India (7.3%), and Indonesia (7.2%).

Gloria Guevara, President & CEO of WTTC, said: “The United States remains the largest Travel & Tourism market in the world and has an amazing foundation. To avoid losing its leadership position the U.S. must invest in promoting its attractiveness, both in international markets and during the summer of football; change perception and position the U.S. as a welcoming destination; and grow international visitor spend, encouraging stopovers and new experiences.”

Jason Wynn, CEO of Chase Travel, said: “As WTTC’s latest research shows, the U.S. Travel & Tourism sector continues to demonstrate remarkable resilience, supporting millions of jobs and driving trillions of dollars in economic growth even amid global headwinds. With the U.S. set to host a series of global events through 2028, we have an extraordinary opportunity to welcome new visitors and bring travellers from around the world closer together, fostering meaningful connections across countries and communities."

“At Chase Travel, we are committed to being the go-to partner and provider for both domestic and international travel, leveraging our world class marketplace to empower travellers, advisors, and partners to elevate every trip and drive lasting growth for the industry.”

WTTC will continue working with governments and industry leaders to support sustainable Travel & Tourism growth, strengthen competitiveness, and ensure the sector remains a driver of jobs, investment, and economic opportunity.

Chase Travel remains dedicated to making travel more accessible and rewarding for cardmembers by connecting them to trusted partners, seamless booking and support, and the experiences that matter most.