International Traveler Spending Reached Highest Level Since Pandemic
The expenditure of globetrotters from around the world continues to climb to unprecedented levels since the end of the pandemic.
According to the most recent data from the National Travel and Tourism Office, spending from international travelers in the United States reached its peak level for the month of May since the pandemic began in February 2020. Their spending on travel to and activities related to tourism within the country exceeded $17.5 billion, marking a 26% increase compared to May 2022.
From January to May, the total amount of money spent by tourists from around the world reached $84.7 billion, showing a significant increase of 41% compared to the previous year. On a daily basis, international travelers are currently contributing approximately $561 million to the economy of the United States.
Expenditure on accommodation, meals, entertainment, and other products and services associated with travel and tourism reached a total of $9.7 billion, showcasing an increase from $7.2 billion recorded in May 2022.
In the month of May, individuals from the United States who journeyed to other countries contributed approximately $17 billion to their respective economies. This, in conjunction with the overall expenditure by international travelers, resulted in the United States attaining a trade surplus of $530 million in the travel sector.
