New: Weak Travel Trade Balance Points to Urgent Need for Federal Action

U.S. Travel Association | February 16, 2023

New data released by the U.S. Department of Commerce reveals the country’s travel trade surplus slipped to just $4 billion in 2022—down from an all-time high of $85.9 billion less than a decade ago, underscoring the urgent need to rebuild inbound travel and regain its associated economic benefits. “Travel has historically generated an annual trade surplus that meaningfully reduced the U.S. trade deficit,” said U.S. Travel Association President and CEO Geoff Freeman. “The latest trade data is a wake-up call for immediate federal action to boost this essential industry and increase travel exports to benefit the entire U.S. economy...