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International Visitor Spending Continues to Rise in the U.S
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The U.S. Office of Travel and Tourism Industries has revealed new data which shows that international tourist expenditure in the U.S has continued to increase and is on track to break the record set in 2008.
According to a monthly report from the federal agency, international visitors in the U.S. have spent 13 percent more on travel and tourist-related activities in October 2011 than during the same time in 2010. International tourist are reported to have spent USD$10 billion on hotels, food, souvenirs and other expenses in the U.S/.
There is a balance-of-trade surplus of USD$35 billion for the U.S because in the first 10 months of the year, overseas tourist expenditure in the U.S. reached USD$127 billion while Americans traveling abroad spent USD$91.9 billion, an 8 percent increase over the same period in 2010.
International travel and tourism-related spending has increased, on average, more than USD$1.5 billion a month in 2011 and is predicted to surpass USD$152 billion for 2011, breaking the record of USD$141 billion set in 2008.
Canada, Mexico, China and Brazil are the four countries that are expected to account for two-thirds of the projected growth in international travel to the U.S. over the next five years, with expected growth respectively of 31 percent, 13 percent, 10 percent and 7 percent respectively.
The U.S. Travel Association recently called for improving the U.S. immigration system to make it easier for overseas tourists to visit the U.S. Some solutions that have been recommended to the federal government include speeding up the process for getting tourist visas and expanding the visa waiver program to more countries.
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