In February 2024, international visitors surpassed all previous records by spending a remarkable amount in the United States. The total expenditure on travel and tourism-related activities reached an unprecedented $20.4 billion, marking a significant increase of over 25 percent compared to February 2023. This level of spending represents the highest ever recorded for any February.

It is worth noting that the United States came very close to its highest monthly spending record, set in March 2018, with a difference of only $436 million. During that time, international visitors spent a substantial $20.8 billion exploring the wonders of the United States. With such impressive figures, it is anticipated that the United States will surpass this record later in the year.

On the other hand, in February, Americans set a new record by spending $21.1 billion on international travel. However, this resulted in a trade deficit of $732 million for the month, marking the end of a seven-month period of trade surpluses in the travel and tourism sector (exports minus imports).

In February 2024, the export of travel and tourism from the United States contributed to 23.6 percent of the country’s services exports and 7.7 percent of its total exports, encompassing both goods and services.

Composition of Monthly Spending (Travel Exports)

Travel Spending

Purchases of travel and tourism-related goods and services by international visitors traveling in the United States totaled $11.9 billion during February 2024 (compared to $9.0 billion in February 2023), an increase of more than 31 percent when compared to the previous year. These goods and services include food, lodging, recreation, gifts, entertainment, local transportation in the United States, and other items incidental to foreign travel. Travel receipts accounted for 58 percent of total U.S. travel and tourism exports in February 2024.

Passenger Fare Receipts

Fares received by U.S. carriers from international visitors totaled $3.6 billion in February 2024 (compared to $2.9 billion in the previous year), up 27 percent when compared to February 2023. These receipts represent expenditures by foreign residents on international flights provided by U.S. air carriers. Passenger fare receipts accounted for 18 percent of total U.S. travel and tourism exports in February 2024.

Medical/Education/Short-Term Worker Spending

Expenditures for educational and health-related tourism, along with all expenditures by border, seasonal, and other short-term workers in the United States totaled $4.9 billion in February 2024 (compared to $4.4 billion in February 2023), an increase of 12 percent when compared to the previous year. Medical tourism, education, and short-term worker expenditures accounted for 24 percent of total U.S. travel and tourism exports in February 2024.