US fall behind global competitors in tourist spending

Published on : Thursday, June 21, 2018

US tourist spendingTourist spending represents just 1.1 percent of the US economy and has the possibility to fall further behind the global average of 1.2 percent and versus 2.1 percent for Europe.

 
A recent study found that on average, European and major developed economies have a higher level of tourist spending in their countries as a percentage of GDP compared to the emerging markets.

 
The US ranked 25th in the study. The main driver behind the slower rate of growth in tourist spending is that many European economies are often unable to upgrade tourist infrastructure as quickly as many emerging markets.

 
China is investing in infrastructure considerably, which is needed to accommodate large numbers of international visitors. Beijing Daxing Airport will be the largest airport in the world when it opens in 2019.

 
While tourism represents a relatively small part of the overall US economy, in many states, it is a significant component of the economy. In New York, which is the most visited state in the US, one out of every twelve jobs is tourism-related.

 

Related Posts

Tags: , ,

Leave a Reply

Your email address will not be published. Required fields are marked *

arrow2Follow TTW
 
facebook-logo  twitter-logo  LinkedIn_logo  rss_logo 
ttw_blogger_logo  ttw_blogger_logo

ADVERTISEMENT

  • 03 ITB Asia 2021
  • 08 iitm 2021
  • 12 ttfotm 2021
  • 15 SATTE 2021
  • 18 globalwellnesssummit  21
  • 30 PATA

TRAVEL INDUSTRY EVENTS

    1. AHIC

      September 20 - September 22
    2. ARABIAN HOSPITALITY INVESTMENT FORUM 2021

      September 20 - September 22
    3. AFRICA HOSPITALITY INVESTMENT FORUM 2021

      September 20 - September 22
    4. TTF Ahmedabad

      September 23 - September 25
    5. TTF Mumbai

      September 29 - October 1