Foreign Visitors Spent Record-Setting $21.6 Billion in US in May

The most recent data from the National Travel and Tourism Office (NTTO) reveals that international tourists spent a historic $21.6 billion on travel to and tourism activities in the United States in May 2024. This marked a significant increase of over 16 percent compared to May 2023, surpassing the pre-COVID records set in March 2018. Notably, monthly U.S. travel and tourism exports have reached an all-time high.

On the other hand, in May, American travelers spent close to $20.5 billion internationally, resulting in a trade surplus of over $1.1 billion for travel and tourism-related products and services.

International tourists have contributed almost $104.9 billion to the U.S. travel and tourism industry from January to May 2024, marking a growth of over 17% compared to the previous year. On average, these visitors have infused nearly $695 million into the U.S. economy daily so far this year.

In May 2024, U.S. travel and tourism exports made up 23.4 percent of U.S. services exports and 8.2 percent of all U.S. exports, including both goods and services.

In May 2024, international visitors’ spending on travel and tourism-related products and services in the United States reached $12.1 billion, marking a 19 percent increase from the previous year’s $10.1 billion. These expenditures encompass expenses on food, accommodation, leisure activities, souvenirs, entertainment, local transportation within the U.S., and other miscellaneous items associated with foreign travel.

Travel receipts made up 56 percent of the overall U.S. travel and tourism exports in May 2024.

In May 2024, U.S. carriers collected $3.5 billion in fares from international visitors, showing a 13 percent increase from May 2023. This amount is higher compared to the $3.1 billion received in the previous year. The fares represent the money spent by foreign residents on international flights operated by U.S. air carriers.

Passenger fare receipts made up 16 percent of the total U.S. travel and tourism exports for the month of May.

In May 2024, the combined spending on educational and health-related tourism, as well as the expenditures made by border, seasonal, and other short-term workers in the United States, reached $5.9 billion, marking a 12 percent increase from the previous year’s $5.3 billion.

Additionally, medical tourism, education, and short-term worker expenses made up 28 percent of the total U.S. travel and tourism exports in May 2024.