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.