The U.S. resident outbound market, totaling 63.6 million travelers, declined by one percent in 2008 compared to annual 2007 figures, the first decline since 2002. Travel to Mexico grew by four percent whereas travel to overseas and Canada declined by one percent and seven percent, respectively. Spending by U.S. residents traveling abroad (imports) in 2008, however, set a record for the fifth successive year at $112.3 billion, up seven percent from 2007. Spending by U.S. travelers within foreign…
The U.S. resident outbound market, totaling 63.6 million travelers, declined by one percent in 2008 compared to annual 2007 figures, the first decline since 2002. Travel to Mexico grew by four percent whereas travel to overseas and Canada declined by one percent and seven percent, respectively.
Spending by U.S. residents traveling abroad (imports) in 2008, however, set a record for the fifth successive year at $112.3 billion, up seven percent from 2007. Spending by U.S. travelers within foreign countries (travel payments) totaled $79.7 billion and spending on air transportation, via foreign air carriers (passenger fare payments), totaled $32.6 billion in 2008.
The top five countries where U.S. spent their 2008 travel dollars were: Mexico ($11.1 billion), United Kingdom ($10.5 billion), Canada ($7.3 billion), Germany ($6.3 billion) and Japan ($5.2 billion).
U.S. travelers set records for 2008 travel spending in: Germany, Japan, Italy, Hong Kong, Taiwan, Korea, Australia, Netherlands and Argentina.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
