Travel Exports Make Historic Gains in 2012
Release Date: Feb 20, 2013
The Commerce Department announcement that travel exports reached an all-time high last year is another indication that our economic contributions to the nation continue to grow. While overall exports of U.S. goods and services grew just four percent in 2012, travel exports more than doubled that pace (see press release), up 10 percent. The last time travel exports grew this much faster than overall U.S. exports was in 1990. The trade surplus in travel also rose to a record of $50 billion in 2012, up from $43 billion. The durable strength of travel exports has been a major force that has enabled the travel industry to recover from the Great Recession.