How Much Does Foreign Travel Cost The United States?

Travel spending in the US reached $1.2 trillion in 2022, matching pre-pandemic levels and producing an economic footprint of $2.6 million. In 2019, total direct domestic and international traveler spending was $1.1 trillion. The travel and tourism industry, as measured by the real output of goods and services sold directly to visitors, increased 21.0% in 2022 after increasing 53.6% in 2021. The industry generated $1.9 trillion in economic output, supporting 9.5 million American jobs and accounting for 2.9 of U.S. GDP.

The global online travel market amounted to 474.8 billion U.S. dollars in 2022, a figure that was forecast to exceed one trillion. Total export revenues from international tourism reached USD 1.7 trillion in 2023, about 96 of pre-pandemic levels. The US travel and tourism industry contributed nearly USD1.6 trillion to the US economy in 2015 or 2.6% of its GDP. Travel and tourism exports accounted for a significant portion of domestic visitor spending, with a 33.1 jump in international visitor spending in 2023 but remained 14.4 billion.

Inbound tourism receipts in the U.S. amounted to nearly 176 billion in 2023, making the United States the global travel destination with the highest international tourism receipts. The pandemic generated a loss of 2.6 billion international arrivals in 2020, 2021, and 2022 combined.

The travel and tourism industry has a unique ability to generate a trade surplus, but in 2022, it declined to just $3 billion. Purchases of travel and tourism-related goods and services by international visitors traveling in the U.S. totaled $10.9 billion during February 2013.

In conclusion, the travel and tourism industry in the U.S. has experienced significant growth and contribution to the economy, with the global online travel market reaching a record high in 2023.

Does tourism help the economy?

Tourism presents a significant opportunity for sustainable development, creating jobs, strengthening local economies, contributing to infrastructure development, conserving natural environments and cultural assets, and reducing poverty and inequality. However, the industry is vulnerable to crises, with decisions on travel largely influenced by personal perceptions of the destination. Security is a key factor, with tourists relying on travel warnings from foreign ministries.

The COVID-19 pandemic significantly impacted global tourism, putting up to 100 million jobs at risk. Despite this, tourism generally recovers more quickly than other industries. The Federal Ministry for Economic Cooperation and Development (BMZ) supports partner countries in developing the tourism sector to become resilient to crises and provide income and employment opportunities. The private sector is an essential partner in transitioning to economically and environmentally sustainable tourism.

Who spends the most money on international tourism?

In 2023, China ranked highest in outbound tourism expenditure, spending 196. 5 billion U. S. dollars. This was a sharp increase from 2019, the year before the COVID-19 pandemic. The United States and Germany followed in the ranking. International tourist arrivals reached 1. 3 billion in 2023, growing significantly over the previous year but not catching up with the peak from 2019. International tourism receipts exceeded pre-pandemic levels, reaching 1.

5 trillion U. S. dollars. Europe was the global region with the highest number of inbound tourist arrivals, surpassing 700 million in 2023. Asia and the Pacific reported around 240 million inbound tourist arrivals. Overall, global tourism has recovered from the pandemic’s impact.

Who is the biggest spender on tourism?

China has regained its top spot as the top international tourism spender in 2023, following its recovery from the pandemic. The US led the list of top spenders in 2022, followed by France, Spain, and the USA. Chinese expenditure on travel abroad reached USD 196. 5 billion in 2023, ahead of the US, Germany, the UK, and France. Canada, Italy, India, the Russian Federation, and the Republic of Korea also made up the top ten spenders. India rose to 8th place, while Italy rose from 10th to 7th place.

France, Spain, and the USA consolidated their positions as the world’s most visited destination in 2023, with 100 million international tourist arrivals. Spain followed with 85 million, followed by the US, Italy, and Turkey, which closed the top five with 55 million tourists.

How much money do we make from tourism?

India’s international tourism revenue exhibited a notable increase from 8. 7 billion U. S. dollars in 2021 to 16. 92 billion U. S. dollars in 2022. Access to the free statistics is available for a fee of $1, 788 USD per year, with the premium statistics not included. An annual contract is a prerequisite for access, with the contract period commencing on the date of purchase and expiring one year later.

How does the US economy benefit from international travel?

Travel promotion has been demonstrated to stimulate economic activity, create employment opportunities, and generate tax revenue, thereby supporting the provision of public services. In 2017, the travel industry generated $2. 4 trillion for the U. S. economy.

What percentage of the GDP is tourism?

In 2023, travel and tourism’s contribution to global GDP declined by 1. 3 percentage points compared to 2019, the year before the COVID-19 pandemic. These industries made up 9. 1% of the global GDP, contributing nearly 10 trillion U. S. dollars. The pandemic’s lockdowns and travel restrictions impacted travel and tourism, with job growth but slightly below pre-pandemic levels. International tourist arrivals also lagged pre-pandemic levels, with Europe being the global region with the highest number of international tourist arrivals. Despite a rebound in 2022 and 2023, the number of international tourist arrivals remained below the peak of nearly 1. 5 billion reported in 2019.

Which country has the highest tourism?

In 2022, France was the top destination for international tourists, with 87 million visitors. Spain saw 82 million visitors, while the United States had 77 million. China had 61 million visitors, followed by Italy at 58 million. Mexico had 39 million visitors, the United Kingdom at 38 million, and Turkey at 38 million. The World Tourism Organization (UNWTO) reported 1. 3 billion international tourist arrivals in 2023, with France being the most visited country. France has been a top destination for over 30 years, offering breathtaking natural sites, diverse cities, and charming historic villages.

Who profits the most from tourism?

The US leads the travel and tourism market in revenue with 204. 45 billion U. S. dollars, followed by China with 149. 18 billion U. S. dollars, and Canada with 16. 75 billion U. S. dollars, resulting in a difference of 187. 7 billion U. S. dollars. Other insights include a ranking by country regarding revenue in the market and a subsegment in the Netherlands’ Cruises segment. Statista Market Insights covers a wide range of markets.

How much money does tourism bring to us?

In 2022, the gross domestic product of the United States travel and tourism sector was approximately 2. 02 trillion dollars. Access to all statistics is available for an annual fee of $1, 788 USD, which does not include premium statistics. The account is subject to an annual contract, with the subscription period renewing after one year at the regular list price.

What percent of US GDP is tourism?

In 2021, the travel and tourism gross domestic product (GDP) in the United States increased by 63 percent, while the rest of the GDP increased by 10 percent, resulting in a 2. 2 percent share.