In June 2024, international tourists significantly boosted the U.S. economy, spending a staggering $21.2 billion on travel and tourism-related activities.
This figure marks an impressive 14 percent increase compared to the same period in 2023, underscoring the resilience and appeal of the United States as a top global destination.
The Breakdown of Spending
Travel Spending Hits New High
A substantial portion of this expenditure, $11.7 billion, was spent on various travel-related goods and services. From accommodation to local transportation, and dining to recreational activities, international visitors contributed significantly to the U.S. economy. This category alone accounted for 55 percent of the total U.S. travel and tourism exports for June 2024, reflecting a 16 percent increase from the previous year.
Passenger Fare Receipts on the Rise
In addition to direct spending on travel, international tourists also spent $3.5 billion on passenger fares, specifically on flights operated by U.S. carriers. This 17 percent year-over-year increase highlights the growing reliance on American airlines by foreign travelers and represents 17 percent of total travel and tourism exports for the month.
Growth in Medical and Educational Tourism
Interestingly, the month also saw a notable rise in expenditures related to educational and health-related tourism, as well as spending by short-term workers. This segment contributed $6.0 billion to the economy in June 2024, up 9 percent from the previous year, and accounted for 28 percent of total travel and tourism exports. This growth illustrates the diverse ways international visitors are contributing to the U.S. economy beyond traditional tourism.
Year-to-Date Economic Impact
The first half of 2024 has been particularly strong for the U.S. travel and tourism sector. From January through June, international visitors have spent nearly $126.2 billion, which is a 17 percent increase compared to the same period in 2023. On average, this influx of visitors has injected nearly $697 million into the U.S. economy every day.
Sarah Jones, an analyst at the National Travel and Tourism Office, remarked, “The consistent growth in spending by international visitors is a testament to the United States’ enduring appeal as a destination that offers a diverse range of experiences. This trend not only supports our tourism sector but also bolsters the broader economy.”
A Positive Trade Balance
Interestingly, despite the significant outbound travel by Americans, who spent more than $20.8 billion abroad in June, the U.S. still managed to maintain a slight trade surplus of $360 million in travel and tourism-related goods and services. This surplus highlights the U.S. as a net exporter of tourism services, a critical component of its economic strategy.
The robust spending figures from international visitors demonstrate the importance of travel and tourism as vital contributors to the U.S. economy. As the industry continues to recover and grow, the outlook remains positive, with expectations of sustained contributions from global travelers.
