Naperville, IL -- (SBWIRE) -- 05/21/2012 -- In terms of revenues generated, the US travel and tourism sector is the largest in the world. In total it contributed over US$400 billion to the US economy in 2011, which was representative of 2.9% of the country’s total GDP. According to the Travel and Tourism Competitive Index (TTCI), the US is ranked sixth among the most attractive global locations to develop business. The US is the global leader in terms of international travel and tourism exports, which accounted for 25% of the nation’s overall services exports in 2011.
Aside from being a leading tourist location, the US is a global business destination due to its economic and trade policies. The country’s prominent position is based on three key factors. Firstly, the US population comprises immigrants from many cultures. The cultural ties of these immigrants to their countries of origin result in regular travel to and from these destinations. Secondly, the US is the global hub for the world’s airline industry, while its sea ports are considered some of the most important globally. Thirdly, being a leading educational destination the US attracts international students who not only study, but eventually settle and work in the country. Consequently, the country attracts a significant number of business and leisure travellers. According to the World Tourism Organization (UNWTO) the US ranked second in the world, after France, in terms of international tourist arrivals in 2011.
The Impact of Tourism in the United States of America report provides an extensive analysis related to the impact of the travel and tourism industry on the US economy:
- It details historical values for the US travel and tourism industry for 2007–2011, along with forecast figures for 2012–2016
- It provides analysis of the overall travel and tourism industry, as well as individual market/category values for both the 2007–2011 review period and the 2012–2016 forecast period
- The report makes a detailed analysis and projection of tourist spending pattern in the US
- The report provides employment and salary trends for various markets/categories of the travel and tourism industry
Reasons to Buy
- Take strategic business decisions using historic and forecast market data related to the American travel and tourism industry
- Understand the demand side dynamics within the US travel and tourism industry, along with key market trends and growth opportunities
- Identify the spending patterns of domestic, inbound and outbound tourists by individual markets/categories
- Analyze key employment and compensation data related to the travel and tourism industry in the US
- In terms of revenues generated, the US travel and tourism sector is the largest in the world. In total it contributed over US$400 billion to the US economy in 2011, which was representative of 2.9% of the country’s total GDP.
- The US travel and tourism sector generated US$1.9 trillion in economic output in 2011, accounting for 3.2% of the country’s total employment, representative of 7.7 million jobs.
- According to the World Tourism Organization (UNWTO) the US ranked second in the world, after France, in terms of international tourist arrivals in 2011.
- The expansion of the US visa waiver program will increase the capacity to process visas in emerging countries such as China, India and Brazil. Coupled with a growth in business travel from China, the program is expected to aid growth over the forecast period.
- The travel and tourism sector directly employed 5.6 million people in various categories, such as accommodation, foodservice, entertainment and sightseeing in 2011.
To view the detailed table of contents for this report please visit: http://www.reportstack.com/product/67978/the-impact-of-tourism-in-the-united-states-of-america-to-2016.html