Home Business International Visitors Inject $620 Million A Day Into U.S. Economy

International Visitors Inject $620 Million A Day Into U.S. Economy

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WASHINGTON, 28 OCT 2014 – U.S. Under Secretary of Commerce for International Trade Stefan M. Selig  announced that international visitors to the United States spent $19.2 billion on travel to, and tourism-related activities within, the United States in August 2014, an increase of nearly 6 percent when compared to August 2013.

International visitors have spent nearly $150 billion on U.S. travel and tourism-related goods and services year to date, an increase of more than 5 percent when compared to the same period in 2013.

“Travel and tourism continues to be a leading industry sector in the U.S. economy, supporting businesses and more than 7.7 million jobs in local communities across America,” Selig stated. “Today’s data indicate that we are making positive strides toward achieving President Obama’s National Travel and Tourism Strategy goal of attracting 100 million international visitors and generating $250 billion in visitor spending annually by the end of 2021.”

Travel Receipts: Purchases of travel and tourism-related goods and services by international visitors traveling in the United States totaled $12.0 billion during August, an increase of more than 3 percent when compared to last year. These goods and services include food, lodging, recreation, gifts, entertainment, local transportation in the United States, and other items incidental to foreign travel. Travel receipts accounted for 62 percent of total U.S. travel and tourism exports for August.

Fares received by U.S. carriers from international visitors totaled $3.8 billion for the month, an increase of nearly 13 percent when compared to August 2013. Passenger fare receipts accounted for 20 percent of total U.S. travel and tourism exports for August.

Expenditures for educational and health-related tourism, along with all expenditures by border, seasonal, and other short-term workers, totaled nearly $3.4 billion in August, an increase of 5 percent when compared to the same period last year. Medical tourism, education, and short-term worker receipts accounted for nearly 18 percent of total U.S. travel and tourism exports for August.

International visitors have spent nearly $150.0 billion on U.S. travel and tourism-related goods and services year to date, an increase of more than 5 percent when compared to the same period (January through August) last year; conversely, Americans have spent an estimated $96.4 billion aboard, resulting in a balance of trade surplus of more than $53 billion year to date.- National Travel and Tourism Office , USA

Source: Travelbiznews

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