Economic Impact of Travel & Tourism
Why Travel Matters
Travel and tourism is...
One of America’s largest industries (2010 data)
- Generated $1.8 trillion in ECONOMIC IMPACT with $759 billion spent directly by domestic and international travelers that spurred an additional $1 trillion in other industries.
- Directly generated $118 billion in TAX REVENUE for local, state and federal governments.
- Each household would pay $1,000 MORE IN TAXES without the tax revenue generated by the travel and tourism industry.
- Direct spending by resident and international travelers in the U.S. averaged $2 billion a day, $86.6 million an hour, $1.4 million a minute, and $24,000 a second.
One of America’s largest service exports (2010 data)
- $134 billion in travel exports (including traveler spending in the U.S. and international passenger fare payments to U.S. carriers) and the...
- $103 billion in in travel imports (including U.S. residents' spending abroad and international passenger fares paid to foreign carriers) creates...
- $32 billion in BALANCE OF TRAVEL TRADE SURPLUS for the U.S.
One of America’s largest employers (2010 data)
- Supported 14 million JOBS, including 7.4 million directly in the travel industry and 6.7 million in other industries.
- $188 billion in travel-generated PAYROLL for those employed directly in the travel industry.
- 1 of every 9 U.S. non-farm jobs is created directly or indirectly is induced by travel and tourism.
- Travel is among the TOP 10 INDUSTRIES in 48 states and D.C. in terms of employment.
Learn more about the economic impact of the travel industry in your state by visiting TravelEffect.com.