Travel Industry Accounts for 25% of Overall U.S. Export Growth in 2013
February 7, 2014 9:43am
WASHINGTON (February 7, 2014) - David Huether, senior vice president of research and economics at the U.S. Travel Association, provides analysis on today's Commerce Department announcement of the December U.S. trade balance:
"Travel continues to be a trade dynamo. Travel exports increased by $0.7 billion to $15.9 billion in December 2013 - an 11.8 percent increase from December 2012. The monthly increase was the largest since February 2012, and the largest December increase in the past 20 years.
"The travel industry's trade surplus - the third-largest of any industry - was 8.5 percent higher in December 2013 than in the same month a year before.
"For 2013 overall, travel exports increased by 9.1 percent to a record $180.7 billion dollars. By contrast, other U.S. exports edged up just 2.3 percent in 2013, much slower than in 2012. As a result of growing so much faster than other exports, the travel industry generated 25 percent of the overall increase in U.S. exports in 2013 - not bad for an industry that makes up 8.6 percent of total U.S. exports overall.
"With world-class destinations and competitively priced goods and services, the U.S. travel industry is attracting a record number of foreign travelers to our shores this year, and their spending while visiting our country is one of the key reasons the travel industry been creating jobs faster than the rest of the economy. To build on this success, we urge policymakers to support critical proposals to boost travel, such as the JOLT Act, which would increase international spending in the United States and create more American jobs."
Huether is available for further analysis and comment.
Tags: travel exports,
u.s. travel association
Contact: Cathy Keefe
(O) 202-408-2183, (C) 703-899-7031
Contact: Chris Kennedy
(O) 202-218-3603, (C) 202-465-6635
U.S. Travel Reacts to Trump's Joint Session Address
International Travel to U.S. Finally Returns to Pre-9/11 Levels
Travel Trends Index: Following a Strong 2016, Outlook Improves for Domestic Biz Travel
U.S. Travel Welcomes Senate Confirmation of Rex Tillerson for Secretary of State
U.S. Travel Association Lauds Elaine Chao Confirmation for Secretary of Transportation
U.S. Travel Association Reacts to Executive Orders
U.S. Travel Reacts to Border Security Executive Order
Travel Industry Will Be 'Eager Partner' to Trump Administration According to Roger Dow
Travel Trends Index: Does a "Trump Bump" Get Credit for Surging Travel Forecasts?
U.S. Travel Association's CEO, Roger Dow: Travel Community Looks Forward to Working with General John Kelly, DHS Nominee
Zika Transmission Zone Lifted in Florida by Governor Rick Scott
Growth in Domestic Leisure Travel Offset by Slowdown in International and Domestic Business Travel
Visit California's Beteta and Hilton Worldwide's Nassetta Receive Travel Industry's Highest Honor
Thirteen U.S. Travel Members Appointed to National Advisory Committee on Travel and Tourism Infrastructure
Dow: Travel Industry Looks Forward to Working with Trump Administration
International Travel Remains Positive Despite Headwinds; Overall Outlook Weakens Heading into '17
Travel Community Joins Calls for Long-Term TSA Fixes
Hotel, Travel Industries Join Forces to Urge Congressional Action on Zika Funding
International Visitation Rebounds in June but Brexit to Affect Remainder of 2016
Travel Community Declares Victory for Open Skies Agreements
Please login or register to post a comment.