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TI News: An information service from the National Travel & Tourism Office (NTTO)
October 24, 2014
International Visitors Spend $19.2 Billion in August 2014
International visitors inject nearly $620 million a day into U.S. economy in August
WASHINGTON - U.S. Under Secretary of Commerce for International Trade Stefan M. Selig today 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.”
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.
(1) In June 2014 the Bureau of Economic Analysis (BEA) completed the most comprehensive restructuring of the U.S. international economic accounts since 1976 in an effort to bring our international accounts into closer conformity with international guidelines. As a result, BEA now uses a broader definition of travel that includes education-related and health-related travel and expenditures on goods and services by border, seasonal, and other short-term workers. Therefore, all travel and tourism-related trade data have been revised back to 1999. To learn more, please visit: http://travel.trade.gov/pdf/restructuring-travel.pdf
The National Travel and Tourism Office (NTTO) is responsible for collecting, analyzing, and disseminating international travel and tourism statistics for the U.S. Travel and Tourism Statistical System. For more monthly travel and tourism-related trade data dating back to 1992, please visit the NTTO site at: < http://travel.trade.gov/outreachpages/download_data_table/Monthly_Exports_Imports_Balance.xlsx >.