Here’s the headline from the U.S. Commerce Department;
Travel and Tourism-Related Exports Decline for Thirteenth Straight Month
And here’s their analysis:
The U.S. Department of Commerce recently announced that international visitors spent an estimated $10.2 billion on travel to, and tourism-related activities within, the United States during the month of November – nearly $800 million less (7 percent) than was spent in November 2008 and averaging nearly $1.8 billion less a month year to date . Total international visitor spending is down $19.3 billion (15 percent) year to date (January-November).
Travel Receipts: Purchases of travel and tourism-related goods and services by international visitors traveling in the United States totaled $7.9 billion during November, a decrease of nearly 6 percent in comparison with last year. These goods and services include food, lodging, recreation, gifts, entertainment, local transportation in the United States, and other items incidental to foreign travel.
Passenger Fare Receipts: Fares received by U.S. carriers (and U.S. vessel operators) from international visitors declined nearly 12 percent to $2.3 billion for the month, a decrease of $307 million when compared to November 2008.
November 2009 marks the thirteenth consecutive month in which U.S. travel and tourism-related exports were lower when compared to the same period of the previous year.
Monthly Travel and Tourism Highlights (their highlights, not mine!)
Year-to-date travel and tourism-related exports—spending by international visitors in the United States—totaled $111.2 billion, down nearly 15 percent ($19.3 billion) when compared to 2008.
Year-to-date travel and tourism-related imports—spending by Americans abroad— totaled $89.9 billion, down nearly 13 percent ($13.3 billion).
The U.S. travel and tourism industry has generated a $21.3 billion trade surplus (i.e., exports minus imports) year to date, a 22 percent less favorable balance of trade when compared to last year.
The recent downturn in U.S. travel and tourism exports, beginning in the closing months of 2008, interrupted more than sixty consecutive months of positive growth.
Sounds like American families have some local vacationing to do this year. What are your thoughts?
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