Travel spending tips

Despite rising household expenses, nearly 60 percent of European travelers won’t cut back on traveling or spending on trips in the next six months, according to a survey by the European Travel Commission.

Card giant Visa sailed past estimates for fourth-quarter profit on Tuesday as consumers on a post-pandemic travel rebound shrugged off worries of a looming economic slowdown and cost-of-living crisis.

International traveler spending on travel to, and tourism-related activities within, the U.S. totaled $19 billion in August 2023, its highest level since the pandemic hit in 2020, according to the National Travel and Tourism Office’s latest data. August international traveler spending, however, was still below its 2019 pre-pandemic total of $19.6 billion.

Although business travel has made significant progress in its recovery in recent months, it’s uncertain if and when it will fully rebound from the pandemic.

International inbound travelers spent nearly $163 billion on U.S. travel and tourism-related goods and services in 2022, up 96 percent from 2021, according to the National Travel and Tourism Office’s latest monthly data. On average, international travelers spent more than $445 million a day in 2022.

Americans traveling abroad spent over $15.8 billion on travel to, and tourism-related activities within, other countries in January, more than any single month prior to the pandemic, according to the National Travel and Tourism Office.

Americans spent $17.4 billion traveling abroad in February, a record for the U.S., according to the National Travel and Tourism Office. 

International inbound travelers spent nearly $16.8 billion on travel to, and tourism-related activities within, the U.S. in March, according to the National Travel and Tourism Office, up more than 49 percent year over year.

Good morning from Skift. It’s Monday, June 12. Here’s what you need to know about the business of travel today.

In April, international travelers who came to the U.S. spent more than Americans who traveled abroad for the first time in seven months, according to the National Travel and Tourism Office’s latest data.

In May, international traveler spending in the U.S. reached its highest point of monthly spending since the pandemic started in February 2020, according to the National Travel and Tourism Office’s latest data.  International travelers spent more than $17.5 billion on travel to, and tourism-related activities within, the U.S., up 26% from May 2022.