The latest data from the National Travel and Tourism Office (NTTO) reveals that international travelers spent almost $20.1 billion on travel to and tourism activities in the United States in March 2024. This marks a growth of over 22 percent from March 2023 and brings spending levels very near to exceeding the pre-COVID monthly expenditures recorded in 2019.

On the other hand, the expenditure of Americans on international travel reached a staggering $20.7 billion in March, marking the thirty-sixth consecutive month of growth. However, this resulted in a trade deficit of $591 million for travel and tourism-related goods and services.

Foreign Visitors Spent $20.4 Billion in US in February

During the period from January to March 2024, international visitors have contributed approximately $60.0 billion to the U.S. economy through their spending on travel and tourism-related goods and services. This represents a significant increase of over 23 percent compared to the previous year, 2023. On average, international visitors have injected nearly $667 million into the U.S. economy each day during this period.

In March 2024, U.S. travel and tourism exports accounted for 23.3 percent of U.S. services exports and 7.8 percent of all U.S. exports, including both goods and services.

Composition of Monthly Spending (Travel Exports):

Travel Spending

In March 2024, international visitors spending on travel and tourism-related goods and services in the United States reached $11.6 billion, showing a significant increase of 31 percent from the previous year’s $8.9 billion. These expenditures cover a wide range of items such as food, accommodation, recreational activities, souvenirs, entertainment, local transportation, and other miscellaneous expenses associated with foreign travel. Travel receipts made up 58 percent of the total U.S. travel and tourism exports for that month.

Passenger Fare Receipts

In March 2024, U.S. carriers received a total of $3.5 billion in fares from international visitors, showing a 10 percent increase compared to March 2023 when the amount was $3.2 billion. These receipts reflect the expenses incurred by foreign residents on international flights operated by U.S. air carriers. Passenger fare receipts constituted 17 percent of the overall U.S. travel and tourism exports during the month of March.

Medical/Education/Short-Term Worker Spending

In March 2024, the combined spending on educational and health tourism, as well as expenditures by border, seasonal, and other short-term workers in the United States, reached $5.0 billion, marking a 13 percent increase from the previous year’s $4.4 billion total for March 2023. Medical tourism, education, and short-term worker expenses made up 25 percent of the overall U.S. travel and tourism exports in March 2024.