US travel spend growth continues to surpass that of other industries
In 2023 for the 3rd consecutive year, growth of ad spend by US travel advertisers has exceeded that of other industries: forecast is for 14.3% growth to $6.79B.
High growth rate is expected for 2024 as well, as pent-up demand due to COVID travel restrictions continues to drive spend.
Almost uniquely, in the travel vertical, search ads are getting a higher share of digital ad spend than display ads. Healthcare and pharma is the only other vertical in which this is the case.