Travel Exports Outpacing Other U.S. Industries
August 10, 2012
Washington, D.C. - David Huether, senior vice president of economics and research at the U.S. Travel Association, provides analysis on today's Commerce Department announcement on international trade that overall exports increased to $185 billion in June, up more than $2 billion from May. However, overall exports of services slightly decreased to $52.2 billion, including travel exports, driven mainly by $35 million decline in passenger fare exports.
“While travel exports declined by $40 million since May – only a 0.3 percent change – year to date, travel exports are still growing faster than all other service exports and contribute to more than one-quarter of total service exports.
"Travel exports outpaced the rest of the economy through the first six months of the year, increasing 11 percent – nearly three times faster than total services exports and double overall exports.
“The slight slowdown in June reinforces the need to promote the United States abroad and increase international travel to the United States. Legislation such as the JOLT Act are key to continue to increase international spending and create American jobs to improve local economies.”
Huether is available for further analysis and comment.
Cathy Keefe 202-408-2183
The U.S. Travel Association is the national, non-profit organization representing all components of the travel industry that generates $1.9 trillion in economic output and supports 14.4 million jobs. U.S. Travel's mission is to increase travel to and within the United States.