Americans traveling abroad spent over $15.8 billion on travel to, and tourism-related activities within, other countries in January, more than any single month prior to the pandemic, according to the National Travel and Tourism Office.
International visitors spent over $14.7 billion in January on travel to, and tourism-related activities within, the U.S., causing the U.S. to experience a balance of trade deficit of nearly $1.1 billion in travel spending. That’s the third time in the past six months that the U.S. experienced a monthly trade deficit in travel spending. Compared to January 2021, international visitor spending rose nearly 64 percent in January.
Spending on travel and tourism-related goods and services, which include lodging and entertainment, totaled $7.9 billion in January, down from $11.5 billion for the same period in 2019.