International visitors to the US spent a record-breaking $168.1bn (+10%) on US travel and tourism-related goods and services in 2012.

 

According to the latest figures released last week by the US Office of Travel and Tourism Industries, international visitors pumped nearly $1.3bn more per month into the US economy in 2012 than they did in 2011.

By contrast, Americans spent nearly $118.1bn when travelling abroad in 2012 (+8%) – resulting in a $50bn trade surplus for travel and tourism for 2012. This corresponds to a +16% more favourable balance of trade than 2011 and the largest trade gap in history for US travel and tourism.

Amongst the fastest growing visitor nationalities and highest spenders were Chinese tourists who spent $9.2bn in the US in 2012 – an increase of 19% compared with 2011.

This placed Mainland Chinese sixth in the visitor nationality league of top spenders behind Canada ($26.2bn/+9%), Japan ($16.6bn/+12%), the UK ($13bn/+9%), Mexico ($10.1bn/+9%) and Brazil ($9.3bn/+10%). Other countries of origin for high spending visitors to the US included Germany ($7bn/+10%), Australia ($5.5bn/+11%), France ($5.3bn/+7%) and India ($4.9bn/+11%)

 

 

US’ TOP 10 VISITOR SOURCE NATIONALITIES
In its commentary on the top 10 league table from top to bottom, the US Office of Travel and Tourism Industries (USOTTI) says that last year Canadians opened their wallets wider than ever before, injecting a record-breaking $26.1bn into the US economy. The USOTTI adds that following the full implementation of the Western Hemisphere Travel Initiative (WHTI) in 2009, visitors from Canada have set spending records in every subsequent year, with travel and tourism exports now accounting for 45% of all US services exports to Canada.

By comparison, it notes that US travel and tourism-related exports to Japan have been fraught with difficulties, with SARS in 2003, the economic slowdown of 2009, and nuclear emergencies in 2011. In 1995 international visitors from Japan spent an estimated $17.8bn in the United States, more than $1.2bn more (7%) than was spent in 2012. At the same time, travel and tourism exports account for 35% of all US services exports to Japan.

Moving on to the UK, USOTTI says that this market has been hit by the global economic slowdown. US travel and tourism exports were down by nearly a third (32%) in 2009 and have been slow to recover. Annual visitor spending by UK residents is currently down by nearly $3.7bn when compared to 2008, but it is on the rise again. Last year, travel and tourism exports accounted for 23% of all US services exports to the United Kingdom.

More positively, visitors from Mexico spent a record-breaking $10.1bn in the US last year, an increase of 9% when compared to 2011 and this was the first time that Mexico has broken through the $10bn barrier. After falling 17% in 2009, US travel and tourism exports to Mexico have risen by 8%, 6%, and 9% respectively in 2010, 2011, and 2012. Travel and tourism exports now account for 38% of all US services exports to Mexico.

Despite continuing reported visa processing problems in Brazil, 2012 marks the ninth consecutive year of double-digit growth in visitor spending and the fifth consecutive year of record-breaking visitor spending by Brazilians in the US. Even during the global economic slowdown of 2009, Brazil broke the previous year’s record and travel and tourism exports now account for 41% of all US services exports to Brazil.

 

 

AMAZING CHINESE GROWTH
Moving on in its ranking, USOTTI notes that back in 2008 China wasn’t even on the US’ top 10 radar screen, but now – after stringing three very impressive consecutive years of strong double-digit growth (47%, 47%, and 19% in 2010, 2011 2012, respectively), China firmly commands sixth place with its visitors spending a record-breaking $9.2bn in the US in 2012. Travel and tourism exports accounted for 31% of all US services exports to China last year.

Similarly, though not quite as dramatically, visitors from Australia have spent record levels on US travel and tourism goods and services in eight out of the last 10 years, helping to propel Australia up in the rankings to the US’ eighth largest market abroad in 2012. Visitors from Australia spent a record-breaking $5.5bn in 2012, an increase of 11% when compared to 2011. Travel and tourism exports accounted for 32% of all US services exports to Australia.

Meanwhile, visitors from France spent more than ever before last year, by France still fell from eighth to ninth in terms of total spending in the US as a result of slower growth than that of Australia (7% vs. 11%, respectively). Nevertheless, 2012 marks the second consecutive year in which visitors from France spent more than ever before in the US with travel and tourism exports accounting for 30% of all US services exports to France.

Similarly, the ranking of visitors from India has fallen since 2008 from seventh to 10th in terms to total spending in the US, but not because they aren’t spending. The reverse is actually true, with these visitors exhibiting double-digit spending growth rates in eight of the last 10 years. Travel and tourism exports account for 41% of all US services exports to India.

More records were also broken by visiting Germans to the US in 2012. Back-to-back years of double-digit growth of US travel and tourism exports to Germany pushed this nationality’s annual spending up to an all-time record of $7bn in 2012, an increase of 10%. Germany maintained its seventh place ranking in 2012, after being leap frogged by China in 2011 when it ranked sixth. Travel and tourism exports account for 28% of all US services exports to Germany.

MORE SOURCES OF RECENTLY RELEASED US DATA:
Readers may also be interested to note that the Office of Travel and Tourism Industries recently released the follow spending-related data:

United States Travel and Tourism Exports, Imports, and the Balance of Trade report for 2012: http://tinet.ita.doc.gov/outreachpages/download_data_table/2012_International_Visitor_Spending.pdf

Top 10 International Markets: Spending report for 2012: http://tinet.ita.doc.gov/pdf/2012-Top-10-Markets.pdf

Monthly Visitor Spending (Exports/Imports/Balance) in Excel for 2012: http://tinet.ita.doc.gov/outreachpages/download_data_table/Monthly_Exports_Imports_Balance.xlsx

Annual Visitor Spending (1960-2012) in Excel: http://tinet.ita.doc.gov/outreachpages/download_data_table/Annual_Exports_Imports_Balance.xls

US Travel and Tourism Balance of Trade: 2003 – 2012 (All Countries): http://tinet.ita.doc.gov/outreachpages/download_data_table/2003-2012.pdf