International Traveler Spending in the U.S. Remains Below 2019 Level
Skift Take
Key Points
- International traveler spending in the U.S. remains below pre-pandemic levels, even worse when adjusted for inflation.
- Affordability issues, including higher costs and a strong dollar, have reduced the buying power of international visitors.
- Americans are spending more on travel abroad post-pandemic, with a notable increase in expenditures.
Summary
International traveler spending in the U.S. remains below pre-pandemic levels, with October 2023 seeing $10.7 billion spent compared to $11.6 billion in October 2019. When adjusted for inflation, the gap is even wider, with 2019 spending equating to $13.9 billion today. Higher costs and a strong dollar have limited international spending, while Americans are spending more on travel abroad, reaching $12.1 billion in October 2023 compared to $9.8 billion in October 2019.
Visitors to the U.S. aren’t spending as much as they used to on lodging, food, local transportation, and entertainment.
International traveler spending in the U.S. has remained below its pre-pandemic level this year – and the gap is even worse when you factor in inflation.
Here are the numbers for October from the National Travel and Tourism Office.
- October 2023: $10.7 billion.
- October 2019: $11.6 billion
If the spending in 2019 had just kept pace with inflation over the past four years, it would be $13.9 billion today.
One factor limiting travel has been affordability: Higher costs and the relatively strong dollar, which has reduced the buying power of many international visitors to the U.S.
On the flip side, Americans traveling abroad have been spending more than they did pre-pandemic. They spent $12.1 billion on travel and tourism-related goods and services in October. That’s an increase from $9.8 billion in October 2019, which would be $11.7 billion after inflation.
Cruise and Tours Sector Stock Index Performance Year-to-Date
What am I looking at? The performance of cruise and tours sector stocks within the ST200. The index includes companies publicly traded across global markets including both cruise lines and tour operators.
The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. See more cruise and tours sector financial performance.
Photo Credit: International traveler spending is down in both real and nominal dollars. Unsplash / Alice Donovan Rouse
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