Travel marketing has recovered strongly in 2022 after taking a hit during the pandemic, which is helping to boost influencer marketing. According to MediaRadar research, increases in travel ad expenditure are near to levels last seen in the first quarter of 2020, with the key categories-airlines, accommodation providers, rental car firms, and tourist boards all returning.
As travel marketing resumes, a portion of the cash will most likely go to building creative partnerships on social media, increasing overall influencer marketing spending by brands.
Spending on Influencer Marketing in the United States, 2019-2024 (in billions and percent change):
- 2019: $2.42 & 26.4%
- 2020: $2.90 & 20.0%
- 2021: $3.90 & 34.7%
- 2022: $4.99 & 27.8%
- 2023: $6.16 & 23.4%
- 2024: $7.14 & 15.9%
A Robust Industry:
Though many recession-conscious firms are reducing marketing budgets our projection predicts that these cuts may not include influencer collaborations. Spending on influencer marketing in the United States will be over $5 billion in 2022, up $850 million from our prior prediction and more than $1 billion more than in 2021.
Companies that already utilize influencer marketing are increasing their spending, while new marketers are entering the market. This year, 74.5% of US businesses with more than 100 employees would collaborate with influencers.
According to a YouGov survey conducted in 2021, travel influencers were the fourth most popular sort of creator worldwide, with 11% of individuals indicating they followed them. This was second only to food (16%), celebrity (12%), and health (12%) producers, and comparable to fashion, beauty, music, and lifestyle creators.