David Huether, senior vice president of research and economics at the U.S. Travel Association, provides analysis on the latest trade data released by the Department of Commerce:
“Travel exports rose to $15.3 billion in November 2013, increasing for the eighth time in the past eleven months.
“International travel spending in the U.S. has surged nearly 9 percent so far this year, almost four times faster than the 2.3 percent increase in other U.S. exports of goods and services. As a result, the travel industry has generated 24 percent of the overall increase in U.S. exports through November compared to the same timeframe last year—impressive for an industry that makes up only eight percent of total U.S. exports.
“Increased spending by international travelers to the U.S. is one of the key reasons the travel industry has been creating jobs faster than the rest of the economy and has already made up 97 percent of the jobs lost during the great recession. To build on this success, we urge policymakers to advance policies that continue to increase international visitation, such as the JOLT Act."
Huether is available for further analysis and comment.
Cathy Keefe 202.408.2183
Chris Kennedy 202.218.3603
The U.S. Travel Association is the national, non-profit organization representing all components of the travel industry that generates $2.0 trillion in economic output and supports 14.6 million jobs. U.S. Travel’s mission is to increase travel to and within the United States.
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