International visitors boost the U.S. economy, travel and tourism sector, contributes 21.2 billion: What you need to know?

Sunday, August 11, 2024

International visitors made a significant impact on the U.S. economy in June 2024, contributing a substantial $21.2 billion to the travel and tourism sector.

This represents a 16% increase compared to the same period in 2023.

A breakdown of the spending reveals that $11.7 billion was directly injected into the U.S. economy through various travel-related goods and services.

This includes accommodations, transportation, dining, and entertainment.

Additionally, international travelers spent $3.5 billion on airline tickets purchased from U.S. carriers.

The data also highlights the growing importance of medical and educational tourism, with spending in this sector reaching $6.0 billion.

This represents a 9% increase compared to the previous year.

The positive trend extends to the first half of 2024, with international tourists contributing nearly $126.2 billion to the U.S. economy.

This translates to an average daily injection of $697 million.

Despite increased outbound travel by Americans, the U.S. maintained a slight trade surplus in travel and tourism for June, underscoring the sector’s importance to the overall economy.

The robust spending by international visitors signifies the enduring appeal of the United States as a premier travel destination.

This trend is expected to continue, bolstering the economy and supporting jobs in the tourism industry.

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Tags: economy, international visitors, the U.S., travel and tourism