Page 6 - IAADFS Summit of the Americas 2024 Special Edition

INSIDER

International visitors spend nearly $20 billion on travel and tourism in the
U.S. in January 2024

The U.S. National Travel and Tourism For all of 2023, international visitors transportation in the United States, and
Office (NTTO) reports that international spent nearly $213.1 billion on U.S. travel other items incidental to foreign travel.
visitors spent nearly $19.7 billion on travel and tourism-related goods and services, Travel receipts accounted for 58%
to, and tourism-related activities within the an increase of nearly 29% when compared of total U.S. travel and tourism exports in
United States in January 2024, an increase to 2022. International visitors injected, on January 2024.
of more than 23% compared to January average, nearly $584 million a day into the
2023 and the highest level of monthly U.S. economy during 2023. Passenger Fare Receipts
spending since December 2019. In fact, U.S. travel and tourism exports Fares received by U.S. carriers from
monthly U.S. travel and tourism exports are accounted for 23% of U.S. services exports international visitors totaled $3.5 billion in
within $1.1 billion of their high-water mark during January 2024 and 7.7% of all U.S. January 2024 (compared to $2.8 billion in
set back in March 2018 when international exports, goods and services alike. the previous year), up 22% when compared
visitors spent $20.8 billion exploring the to January 2023. These receipts represent
United States. Travel Exports/Travel Spending expenditures by foreign residents on
In contrast, Americans spent more Purchases of travel and tourism- international flights provided by U.S. air
than $19.0 billion traveling abroad during related goods and services by international carriers.
January, yielding a balance of trade surplus visitors traveling in the United States Passenger fare receipts accounted
of $638 million. This is the seventh totaled $11.4 billion during January 2024 for 18% of total U.S. travel and tourism
consecutive month during which the United (compared to $8.8 billion in January 2023), exports in January 2024.
States generated a balance of trade surplus up 29% versus the previous year. These
for travel and tourism-related goods and goods and services include food, lodging,
services. recreation, gifts, entertainment, local

ITA forecasts more than 15% increase of international visitors to the

United States in 2024

The International Trade nearly 50% and visitors from Mexico rose Mixed recovery by country
Administration’s National Travel and 16%. Visitation to the United States from
Tourism Office (NTTO) forecasts that As of 2023, total international the top 12 source market countries included
international visitation to the United States visitation to the United States has in the forecast has increased dramatically
will increase to 77.7 million in 2024, up rebounded to 85% of the pre-pandemic from 2020 to 2023. However, due to
10.4 million, or 15.4% from 67.3 million 2019 level, while total overseas visitation myriad socioeconomic factors, the pace of
visitors in 2023. has reached 78% of its pre-pandemic recovery has separated these countries into
International visitation to the U.S. will counterpart. four groups. ...continued
reach 85.2 million in 2025, surpassing pre-
pandemic 2019 visitation of 79.4 million.
Additionally, NTTO forecasts that the Editor/Publisher: Lois R. Pasternak
U.S. is on track to reach 91 million visitors In Memoriam: Paul A. Pasternak
in 2026, exceeding the five-year goal of 90 Executive Editor: Michael Pasternak
million international visitors by 2027 set in Editorial Contributors: John Gallagher, Joe Bates
the National Travel and Tourism Strategy. Production Coordinator & Designer: Chris Hetzer
Design and Production: It’s About Time, Inc.
Webmaster: Michael Pasternak
Background: Printing by The Printer’s Printer. Ft. Lauderdale, Florida
International visitors from all This publication is a special supplement of Travel Markets Insider, published
countries to the United States continued to by Pasternak Communications, Inc., 255 NE 3rd Ave No. 312, Delray Beach,
increase dramatically in 2023. According to FL. 33444 USA. www.travelmarketsinsider.net
editor@travelmarketsinsider.net
the preliminary data released in February, Tel (561) 908-2119
total international visitation was up 32% Travel Markets Insider is a weekly newsletter distributed 50 times a year
from 2022 to 67.3 million arrivals. Of via e-mail, on a subscription basis only.
The annual subscription is US$200. Printed in the USA. All rights reserved.
this total in 2023, overseas arrivals to © 2024 by Pasternak Communications, Inc.
the United States increased 31% to 31.5
million, while Canadian visitors climbed

Summit of the Americas April 2024 6