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TI News: An information service from the National Travel & Tourism Office (NTTO)
December 18, 2015
International Visitor Spending in the United States: October 2015
International visitors spending nearly $265 million less a month in the United States this year
The U.S. Department of Commerce recently announced that international visitors spent an estimated $18.2 billion on travel to, and tourism-related activities within, the United States during the month of October, marking the seventh month this year in which monthly travel and tourism-related exports were lower than the previous year. Previously, passenger fares exports (what international visitors spend to get here) were pulling down total tourism-related exports - largely a function of declining fuel prices and thus lower fares - but now lower-than-average travel receipts (what international visitors while here) have turned downward, too. These downturns in passenger fare receipts and travel receipts were partially offset by an appreciable increase (10%) in visitor spending on medical, education, and/or by short-term workers.1
Year-to-date international visitor spending totaled $181.0 billion (January through October 2015), a decrease of 1 percent when compared to same period last year. Conversely, U.S. residents have spent $129.4 billion traveling abroad year to date, an increase of more than 7 percent. As a result, the United States ran a $51.6 billion trade surplus for travel and tourism through October 2015.
In October 2015 the Bureau of Economic Analysis (BEA) released annual revisions of the U.S. international transactions data, of which travel and tourism-related spending are a part; as a result, we have revised annual international visitor spending data for 2012, 2013, and 2014.
In 2014 international visitors spent $220.8 billion (revised) experiencing the United States, an increase of 3 percent when compared to the previous year. These travel and tourism exports accounted for 31 percent of all U.S. services exports and 9 percent of all U.S. exports, goods and services alike.
To view these revised data, please visit: http://travel.trade.gov/research/reports/recpay/index.html
(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 U.S. 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. 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.