International guests spent greater than $14.7 billion on journey to, and tourism-related actions inside, the United States, a rise of almost 64 p.c.
This is in comparison with January 2022 and marking the twenty-second consecutive month of year-over-year good points (when in comparison with the identical month, earlier yr).
Americans spent greater than $15.8 billion touring overseas, greater than any single month previous to the pandemic, yielding a steadiness of commerce deficit of almost $1.1 billion for the month. This was the third time prior to now 6 months that journey and tourism ran a month-to-month commerce deficit.
Preliminary knowledge launched by the Bureau of Economic Analysis counsel that worldwide guests spent greater than $164.5 billion on U.S. journey and tourism-related items and companies in 2022, almost doubling (up 98.3%) the quantity spent in 2021; worldwide guests injected, on common, almost $451 million a day into the U.S. economic system in 2022.
Composition of Monthly Spending (Travel Exports)
•            Travel Spending
o            Purchases of journey and tourism-related items and companies by worldwide guests touring within the United States totaled $7.9 billion in January 2023 (in comparison with $3.7 billion in January 2022), a rise of 114 p.c when in comparison with the earlier yr.
o            For a pre-pandemic perspective, journey receipts totaled $11.5 billion in January 2019. These items and companies embody meals, lodging, recreation, presents, leisure, native transportation within the United States, and different objects incidental to international journey.
o            Travel receipts accounted for 54 p.c of whole U.S. journey and tourism exports in January 2023.
•            Passenger Fare Receipts
o            Fares acquired by U.S. carriers from worldwide guests totaled $2.6 billion in January 2023 (in comparison with $1.5 billion in January 2022), a rise of 75 p.c when in comparison with the earlier yr.
o            For a pre-pandemic perspective, the United States exported almost $3.4 billion in passenger air transportation companies in January 2019. These receipts are expenditures by international residents on worldwide flights of U.S. air carriers.
o            Passenger fare receipts accounted for 18 p.c of whole U.S. journey and tourism exports in January 2023.
•            Medical/Education/Short-Term Worker Spending
o            Expenditures for academic and health-related tourism, together with all expenditures by border, seasonal, and different short-term staff within the United States totaled $4.2 billion in January 2023 (in comparison with $3.8 billion in January 2022), a rise of almost 11 p.c when in comparison with the earlier yr.
o            For a pre-pandemic perspective, this spending totaled greater than $4.8 billion in January 2019.
o            Medical tourism, schooling, and short-term employee expenditures accounted for 29 p.c of whole U.S. journey and tourism exports in January 2023.
