What's Happening?
Inbound international travel is a vital component of the U.S. economy, representing the largest single services export. In 2023, travel and tourism accounted for 22% of the country's services exports and 7% of all exports. The industry contributed $2.3 trillion to the U.S. economy in 2022, supporting 9.5 million jobs. The International Trade Administration, through the National Travel and Tourism Office, actively promotes U.S. destinations and attractions, providing data and services to enhance international outreach and competitiveness.
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Why It's Important?
The travel and tourism industry is a significant economic driver for the United States, supporting millions of jobs and contributing to GDP. It also plays a crucial role in cultural exchange and international relations. However, the industry faces challenges from global competition and the need to adapt to changing consumer preferences and technological advancements. Ensuring the competitiveness of U.S. destinations requires strategic promotion and the development of policies that support industry growth while mitigating adverse impacts.
