US travel industry ad spend growth outpaces other industries for the third year in a row

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Key stat: Digital ad spend by the US travel industry will grow by 14.3% this year for a total of $6.79 billion, according to our forecast.

Beyond the chart:

• This will be the third year in a row that travel advertisers will increase spending more quickly than any other industry, and that will happen again in 2024, as noted in our US Digital Travel Forecast Overview 2023 report. That said, travel is just 2.6% of the overall US digital ad market.
• Pent-up demand from the pandemic is still driving spending, which surpassed pre-pandemic levels last year.
• Search ads account for a higher share of digital ad spend than display, which is unique to only travel and healthcare and pharma, per our forecast.

Use this chart:

• Determine travel ad spend strategy.
• Compare travel with the overall digital ad market.

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• 3 underutilized ad areas and why the data says you should jump in
• How nonendemic brands and retail media networks should partner

Note: Travel includes airlines, cruises, accommodations, tourism boards, destination marketing organizations, travel bureaus, country clubs, OTAs, travel agents, travel websites, visitor centers, car rental companies, and leisure and unmanaged business travel.

Methodology: Estimates are based on the analysis of various elements related to the ad spending market, including macro-level economic conditions; historical trends of the advertising market; historical trends of each medium in relation to other media; reported revenues from major ad publishers; estimates from other research firms; data from benchmark sources; consumer media consumption trends; consumer device usage trends; and eMarketer interviews with executives at ad agencies, brands, media publishers, and other industry leaders.