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TRAVEL & TOURISM STATS
Travel and tourism is one of America’s most vibrant
and important industries. It creates jobs in all 435 Congressional
Districts; raises billions of tax dollars for federal, state
and local government treasuries; moves people off the welfare
rolls and into meaningful jobs; and produces travel trade
surpluses to help offset the national trade deficit.
Conversely, no industry was more immediately affected by
the events of September 11, 2001 than the U.S. travel and tourism
industry. The resulting decline in travel to and within the
United States caused more than 200,000 industry workers to
be laid off or work reduced hours in the weeks and months
following the attacks. One year after the attacks, many workers
were still unemployed or working reduced hours.
These losses reverberated beyond the travel and tourism industry.
Forty-one states faced major budget shortfalls,
and governors and mayors often cite a dramatic decline in travel and
tourism tax receipts as a major cause.
Despite the slow recovery, the industry remains
a vital piece of the overall global economy.
The Contribution of the Travel and Tourism Industry to
the U.S. Economy and Job Creation
| EMPLOYMENT
— |
The travel and tourism industry provides more than 7.5 million direct travel-generated jobs, producing an annual payroll of $171 billion. |
| REVENUE
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In 2005, travel and tourism generated $105 billion
in tax revenue for federal, state and local governments. |
| EXPORT
— |
In the last decade, travel and tourism has emerged as
America’s largest services sector export category, accounting for 27 percent of all services exports. |
| SURPLUS
— |
In 1996, travel and tourism generated a balance of trade
surplus of $26.3 billion for the United States. In 2005, that surplus was $7.4 billion. |
| IMPACT
— |
The U.S. travel and tourism industry generated nearly $703 billion in 2005. |
| ECONOMIC
ENGINE — |
In 2005, global travel and tourism is expected to generate
$1.65 trillion, or 10.1 percent, of total Gross Domestic
Product (GDP). |
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