The US travel industry’s digital ad expenditure will increase by 14.3% this year to $6.79 billion, according to a forecast by Insider Intelligence/eMarketer.
As mentioned in Insider Intelligence’s US Digital Travel Forecast Overview 2023 study, travel advertisers will raise spending quicker than any other industry for the third consecutive year, which will continue again in 2024.
However, travel accounts for only 2.6% of the US digital ad market. The pandemic’s pent-up demand is still pushing spending, which topped pre-pandemic levels last year.
According to the report, search ads account for a larger share of digital ad spend than display ads, unique to travel, healthcare, and pharma.