Commerce Department Reports Increase in Overseas Spending by Americans
By James Ruggia
July 23, 2012 1:09 PM
U.S. spending abroad increased 7 percent compared to 2010, according to the Department of Commerce’s Office of Travel and Tourism Industries. The U.S. resident outbound market totaled 58.7 million in 2011, down 3 percent from 2010. Travel to overseas regions declined 5 percent, while travel to Mexico and Canada were flat and down 1 percent, respectively. This is the fourth straight year for declines in the total number of Americans going abroad. The top five countries visited by U.S. residents in 2011, were: Mexico (20.1 million), Canada (11.6 million), the United Kingdom (2.4 million), France (1.8 million) and Italy (1.7 million). Only three of the top 10 destinations visited by U.S. travelers posted increases in 2011.
Spending by U.S. residents traveling abroad (imports) totaled $109.8 billion, up 7 percent from 2010. Spending within foreign countries (travel payments) totaled $78.7 billion, up 4 percent, and U.S. travelers spending on transportation, via foreign carriers (passenger fare payments), totaled $31.1 billion in 2011, up 14 percent. Top countries for U.S. spending included Mexico ($9.3 billion), the United Kingdom ($8.7 billion), Canada ($7.7 billion), Germany ($5.7 billion), and Japan ($5 billion).