Travel Industry Accounts for 25% of Overall U.S. Export Growth in 2013
February 7, 2014 9:43am
Travel Export Increase for December 2013, the Largest Increase in 20 Years
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
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.
Contact: Cathy Keefe
(O) 202-408-2183, (C) 703-899-7031
Contact: Chris Kennedy
(O) 202-218-3603, (C) 202-465-6635
Travel Community Lauds Senate Introduction of Bipartisan JOLT Act
Commerce Department Applauds New U.S.- China Agreement To Increase Travel And Tourism Exports
Shutdown Would Cost U.S. Travel Economy At Least $185M per Day
Labor Day Travelers Projected to Spend $13.5 Billion
U.S. Travel Association Names Minnesota's John Edman Natl. State Tourism Director of the Year, 2015
Travel Employment Reaches New Record High in July 2015
Fix Aviation Infrastructure, Cut Taxes on Flyers, Travel Leaders Urge
U.S. Travel Alarmed by Airfare Collusion Allegation
National Travel Leaders: Keep 'Choose Chicago' Funded
Travel Oregon CEO Todd Davidson Named U.S. Travel National Chair
Travel Metrics Posted Record Highs in 2014 with Positive Outlook for 2015
U.S. Travel Community Urges Congress to Reauthorize Terrorism Risk Insurance Act (TRIA) By Year-End
South Dakota Secretary of Tourism Jim Hagen Named State Tourism Director of the Year
Sam Gilliland and Rossi Ralenkotter Selected as 2014 Inductees into the U.S. Travel Hall of Leaders
New Orleans to Host IPW 2016
Travel Community Criticizes TSA Fee Hike
Survey Shows Washington Must Address Failing Infrastructure to Avoid Economic Harm
U.S. Travel Tells Senate Renewal of Brand USA and JOLT Act Passage would Add $200 B to U.S. Economy
Travel Employment Sets Another Record High; Outpaces Other Sectors by 49%
U.S. Travel's 2014 IPW Hosts Largest Number of Travel Buyers in More Than a Decade
Flight Cancellations from Latest Storm Cost Economy $95 Million
Travel Job Recovery Strong in 2013; Industry Nears Pre-recession Employment at Only 5,000 Jobs Short
Mike Gallagher of CityPASS & Disney's Randy Garfield Named to U.S. Travel Assoc. Hall of Leaders
Thanksgiving-like Passenger Congestion to be Year-Round Norm without Major Infrastructure Investment
U.S. Travel Co-Sponsors Fly-In to Call for Immediate Action on Immigration Reform
Government Shutdown Costs U.S. Travel Economy $152 Million Per Day
America's Travel Community Tells Their Shutdown Stories
Tennessean Susan Whitaker Named State Tourism Director of the Year by the U.S. Travel Association
GSA Act Inadvertently Reduces Federal Efficiency and Productivity; U.S. Travel Association Statement
Travel Exports Continue To Be a Source of Strength for U.S. Economy
Please login or register to post a comment.