Tourism is a significant industry in the United States, contributing to the country’s overall economic growth and providing employment opportunities. But what percentage of the U.S. economy is actually dependent on tourism? Let’s find out.
According to the U. Travel Association, direct travel spending by domestic and international travelers in the United States amounted to $1.1 trillion in 2019. This spending generated $2.6 trillion in total economic output and supported 15.8 million jobs across various industries.
To put this into perspective, travel and tourism accounted for 2.9% of the entire U. GDP (Gross Domestic Product) in 2019. While this may seem like a small percentage, it is important to note that the industry’s impact extends beyond just direct spending by travelers.
The tourism industry has a ripple effect on other industries such as transportation, hospitality, restaurants, and retail. These industries benefit from increased demand for their services due to tourism-related activities such as transportation, accommodation, dining, and shopping.
Furthermore, the tourism industry supports small businesses across the country as many of them rely heavily on visitors for their revenue. In fact, small businesses make up 83% of all travel-related businesses in the United States.
It’s also worth noting that tourism has been one of the hardest-hit industries during the COVID-19 pandemic due to travel restrictions and lockdowns implemented globally. The U. Travel Association estimates that travel spending declined by 42% in 2020 compared to the previous year.
However, as vaccination rates increase and restrictions are lifted, there is hope for a rebound in domestic tourism within the United States.
In conclusion, while tourism only makes up a relatively small percentage of the overall U. economy at 2.9%, its impact extends far beyond just direct spending by travelers and supports various industries across the country while providing employment opportunities for millions of Americans.