David Huether, senior vice president of research and economics at the U.S. Travel Association, provides analysis on today's Commerce Department announcement on September 2012 exports:
“Travel exports rebounded in September to a six month high, rising $192 million to $13.9 billion. In fact, travel exports grew faster than travel imports, resulting in a $3.9 billion travel trade surplus for September, the highest surplus in twelve months.
“The growth in travel exports continues to outpace those in all other sectors, increasing 7.8 percent year-to-date, a remarkable 67 percent faster than the 4.6 percent rise in other exports of goods and services. As a result, travel exports now account for 12 percent of total U.S. export growth so far this year, nearly twice the percentage at this same time last year.
“The positive economic impact of international travelers visiting the United States is one of the key reasons why policymakers should support policies that would increase visitation, such as the JOLT act. An increase in travel exports results in a corresponding increase in quality middle-class jobs for Americans. It’s one of the best ways to help shorten unemployment lines across the country.”
Huether is available for further analysis and comment.
The U.S. Travel Association is the national, non-profit organization representing all components of the travel industry that generates $1.9 trillion in economic output and supports 14.4 million jobs. U.S. Travel's mission is to increase travel to and within the United States.