Robust Growth in US Travel and Tourism Exports Approaches Pre-Pandemic Levels

The latest data from the National Travel and Tourism Office (NTTO) reveals a significant surge in international visitors’ spending on travel and tourism-related activities in the United States, reaching $19 billion in November 2023. This marks a remarkable growth of over 21% compared to the same month in 2022, representing the highest monthly spending since December 2019.

Notably, the current level of monthly US travel and tourism exports is merely $1.8 billion below the peak reached in March 2018, underscoring the sector’s resilience and recovery. During March 2018, international visitors spent $20.8 billion experiencing the United States.

In November 2023, Americans boasted a trade surplus of $651 million, marking the fifth consecutive month that the United States has enjoyed a trade surplus in the travel and tourism sector. From January to November 2023, foreign tourists contributed over $192.7 billion to the U.S. economy, demonstrating a substantial 29% growth compared to the previous year.

On average, international visitors injected nearly $577 million into the US economy each day during this period. The exports from the US travel and tourism sector in November 2023 constituted 22.1% of U.S. services exports and 7.5% of overall US exports, including goods and services.

Composition of Monthly Spending (Travel Exports)

Travel Spending

In November 2023, international visitors spent $10.8 billion on travel and tourism-related goods and services in the United States, marking a 25 percent increase from November 2022. Travel receipts constituted 57 percent of total US travel and tourism exports for November 2023.

Passenger Fare Receipts

US airlines collected $3.3 billion in fares from international travelers in November 2023, showing a 24 percent increase compared to November 2022. Passenger fare receipts constituted 18 percent of the total US travel and tourism exports in November 2023.

Medical/Education/Short-Term Worker Spending

In November 2023, the total spending for educational and health-related tourism, as well as expenses by border, seasonal, and other temporary workers in the United States, amounted to $4.8 billion. This reflects a 12 percent increase compared to the previous year’s total of $4.3 billion in November 2022. Additionally, expenditures on medical tourism, education, and short-term workers contributed to 25 percent of the overall US travel and tourism exports for November 2023.