I've been exploring theme parks across the country (and the world) for over three decades, and there are so many options beyond Disney and Universal.
29.09.2023 - 20:47 / forbes.com
Due to the global pandemic, the United States saw a drop in international visitors. While travel has been picking up, one industry that isn’t recovering as quickly is the retail industry. According to the World Travel & Tourism Council (WTTC), the United States is the most popular destination for retail tourism. However, with a rise in online shopping, retailers are hurting.
The U.S. Needs More Inbound Travelers
As reported by the U.S. Travel Association, the need for inbound international travelers to the United States is causing harm to U.S. retailers. Travelers post the economy and even help it grow, especially when they travel to shop.
In a survey conducted by the National Travel and Tourism Office’s (NNTO’s) Survey of International Air Travelers (SIAT), the results revealed that more than 80 percent of international visitors reported shopping when visiting the U.S. Shopping was the top activity that travelers reported.
Here are some figures that show how important travel is:
Why Are International Travelers Important
Spending that comes via overseas travelers helps keep American companies going and employees working. American communities also see benefits thanks to the sales tax that gets paid.
For instance, those visitors to New York City in 2019 contributed nearly $400 million in sales taxes. On a broader scale, when looking at the U.S. as a whole, sales taxes contributed over $2 billion in 2019.
However, in 2022, retail spending was about half of what it had been pre-pandemic. Losses were estimated to be at about $12 billion.
Conclusion
In 2023, overseas travel is only nearly 75 percent recovered, which is estimated to cost retailers over $6 billion. The U.S. retail industry needs a boost from international visitors to help combat declining sales. Communities also benefit from travelers.
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