In a remarkable display of economic strength and global attraction, international visitors injected $21.2 billion into the U.S. economy in June 2024. This represents a 14% increase compared to the same period in 2023, according to newly released data from the National Travel and Tourism Office (NTTO). The surge underscores the resilience and continued appeal of the United States as a premier global destination for travellers.

A Robust Balance of Trade

While Americans spent a substantial $20.8 billion on international travel during June, the U.S. managed to maintain a slight trade surplus of $360 million in travel and tourism-related goods and services. This positive balance is a testament to the strong spending power of international visitors, whose expenditures on travel-related activities within the United States continue to outpace American spending abroad.

Year-to-Date Tourism Figures Reflect Strong Growth

The first half of 2024 has been particularly prosperous for U.S. tourism. International visitors have already spent close to $126.2 billion from January through June, marking a robust 17% increase compared to the same period in 2023. On average, these visitors contribute nearly $697 million daily to the U.S. economy—a clear indicator of the sector’s vitality and critical role in driving economic growth.

International Visitors Spent $21.2 Billion in June 2024.

Breakdown of Travel Expenditures

The composition of the $21.2 billion spent by international visitors in June 2024 is varied, reflecting diverse spending patterns across different sectors:

• Travel Spending: A significant portion, $11.7 billion, was spent on travel and tourism-related goods and services, including food, lodging, recreation, gifts, entertainment, and local transportation. This figure represents a 16% increase from June 2023, underscoring the demand for U.S. travel experiences.
• Passenger Fare Receipts: U.S. carriers benefited from $3.5 billion in passenger fare receipts, a 17% jump from the previous year. This revenue, generated from international visitors, highlights the critical role of U.S. airlines in facilitating global travel.
• Medical, Education, and Short-Term Worker Spending: This category’s expenditure reached $6.0 billion, up 9% from June 2023. This includes spending by those who travelled to the U.S. for medical treatment, education, or short-term work assignments, showcasing the United States’ multifaceted appeal beyond traditional tourism.

Tourism as a Pillar of U.S. Exports

Tourism continues to be a cornerstone of the U.S. economy, with travel and tourism exports accounting for 23.1% of all U.S. services exports and 8% of total U.S. exports in June 2024. The latest figures affirm the sector’s indispensable role in the broader export economy, driving growth and job creation nationwide.

Looking Ahead: A Promising Future

As the U.S. continues to attract visitors from around the globe, the travel and tourism sector is poised for further expansion. The ongoing recovery and growth reflect the enduring allure of American destinations and the robust infrastructure supporting international tourism. With international visitors showing no signs of slowing down, the future looks promising for U.S. tourism, promising continued economic benefits and cultural exchange on a grand scale.

Written by: Yves Thomas

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