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US tourism expected to boom during next five years

Bapun Raz

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Tourism in the United States will boom over the next five years, with number of tourists from emerging markets including China expected to rise dramatically, according to a report released by the US Commerce Department recently.

"The US can expect 6-8 per cent average annual growth in tourism over the next five years, and this year, 64 million foreign travellers are projected to visit the United States, spending USD 144 billion during their stays, setting a new record for travel exports," noted the 2011 International Travel and Tourism Forecast, a report conducted by the department, according to a Xinhua report.

The report also shows that the services trade surplus, which includes travel and tourism, is up 28 per cent so far this year, putting it on track to exceed the record of USD 32 billion set in 2010.

Tourism is one of the most significant sources of exports in the United States, and money spent by international tourists in the US supports millions of service sector jobs.

"Growth in travel and tourism -- with many international visitors spending a lot of money in America -- will help us achieve the President's goal of doubling exports, which will support millions of American jobs. Last year, our nation hosted a record-breaking number of international visitors, and the future looks even brighter." Gary Locke said, Commerce Secretary, Govt of USA. In early 2010, Barack Obama, President, USA launched the National Export Initiative, plan to double the country's export in five years by 2014.
In 2010, 60 million international visitors travelled to the US, generating more than USD 134 billion in receipts and a USD 32 billion trade surplus, according to the report.

Nearly 8 million people in the United States are employed in travel and tourism industries, and 1.2 million are tied directly to international travellers.

Over the next five years, tourists from all world regions to the US are forecast to grow, in which China, the second largest world economy will be the fastest growing visitor origin country.

The report noted that number of tourists from China will grow 232 per cent over the period. South Korea will grow 200 per cent and Brazil 150 per cent. Tourists from Russia and India are also expected to be among the top visitor origin countries to America.

http://www.travelbizmonitor.com/us-tourism-expected-to-boom-during-next-five-years-13550
 
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