Tourism Industries International Travel and Forecast for the US -- Chart 8
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This could start tipping the balance of trade as well. The combined effect of volatile global economic conditions and the increased projected international travel by U.S. residents will start to affect the travel trade surplus we have enjoyed over the past years. Oh, don't get me wrong....our industry will still be well regarded for helping to offset the merchandise deficit, but not with as much substance if these trends keep up. In 1997, we produced a $25 billion surplus...more money in (receipts) than money spent abroad (payments). This surplus could be reduced by nearly $6 billion by 1999. As we have already evaluated and many of you know firsthand, the international marketplace for promotional investment can bring a healthy return, but it means staying in it for the long term if we are to protect this surplus in the balance of trade.
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Chart 8 - Balance of Trade

Balance of Trade

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