Published on : Jan 23, 2015
Stefan M. Selig, Under Secretary of Commerce for International Trade announced on Thursday that a whopping US$18.4 billion was spent by international tourists in November 2014 to the United States of America. This includes tourism-related activities and money spent on travel. This number is a slight raise from those calculated in November 2013.
On an average, approximately US$615 million per day has been injected into the United States economy by international visitors in November. This has proved, once more, that travel and tourism is the most promising sector of the U.S. economy. Stefan Selig also said that with the tourism industry growing by leaps and bounds, the country has come much closer to President Barrack Obama’s target of reaching a total of 100 million international tourists by the end of 2021. The goal is also for the visitors to spend approximately US$250 billion every year by that time.
Calculating from January 2014 to November 2014, international visitors spent an estimated US$203.6 billion only on travel to the United States and tourism-related goods and services year to date. This showed a rise of 4 per cent as compared to the same period in the previous year. As against this, Americans have spent approximately US$133.9 billion as tourists abroad. This translates into a balance of trade surplus approximately US$69.7 billion year to date.
China has continued to remain a significant market for travel and tourism in the United States of America. On the 10th of November last year, President Obama – in order to increase the number of Chinese citizens traveling to the U.S. - announced the arrangement of a reciprocal visa validity between the People’s Republic of China and the United States.