by Donald Wood
Last updated: 9:05 AM ET, Wed August 23, 2023
New data showed that the United States remains the preferred
choice for travelers looking to shop during their vacation.
According to a study from the World Travel & Tourism
Council (WTTC) revealed during Virtuoso Travel Week, retail tourism was worth $178.2
billion in 2019, which equates to six percent of the travel and tourism sector.
In total, the WTTC said retail tourism can represent more
than 15 percent in some destinations.
“Retail tourism is a thriving market segment of the Travel
& Tourism sector in the U.S.,” WTTC President Julia Simpson said. “For
millions around the world, shopping is one of life's great pleasures.”
The data found the U.S. was the largest contributor of
retail tourism to gross domestic product (GDP) in 2019, totaling $34.7 billion.
Despite the global pandemic, America retained the No. 1 spot in 2020 with $17.5
billion.
In 2021, retail tourism contributed $23.9 billion to the
country's economy.
“The pandemic impacted both travel and retail industries
severely, but as the world reopens, this report shows how the retail experience
can become a journey too,” Simpson continued. “Our latest findings on the U.S.
reinforce its allure as a shopping mecca, highlighting the vital role that
retail tourism plays in the country's Travel & Tourism sector.”
WTTC research also found that governments incentivizing the
retail segment with tax-free shopping have seen tourism revenues boom.
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