Tourism in U.S. zoom high but overall exports remains sluggish

The tourism industry in the United States grew nearly twice and as fast as the overall exports and approximately three times as quickly as any other service trade in the country. U.S $14 billion were earned through travel exports. However, it is ironical that as other exports headed southwards, travel exports held their ground in April and grew at 13.2 percent compared with last year.

For the month beginning from April-2011 to April-2012, the increase in service exports was $2.2 billion with travel exports contributing to $1.5 billion. This growth can be attributed to the outcome of the federal government’s newly released travel and tourism policy that went a long way in satisfying many issues facing the travel industry.

The announcement of relaxation of the Bieser restrictions regarding some of the developing economies and the reducing of visa waiting times has made a huge difference. It is estimated that the travelers comprising from countries like Italy, Brazil and China spent about $5000 on their travel to the United States.  Moreover, lessening the visa waiting time has resulted in the hundreds and thousands of travelers coming to the United States and spending their money for the tourism industry in the U.S.

The travel industry’s double-digit growth will provide some answers about the closing of the trade gap by increasing the international travel to the United States. United States is now leading as the largest organizer of the consortia events under the International Congress and Convention Association’s list popularly known as ICCA.  United States has welcomed an additional 136 international meeting during the year- 2011, therefore topping the ICCA list of the world’s most prolific association of events nation.

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