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National Travel & Tourism Strategy Task Force on Travel & Competitiveness

I. Executive Summary

Travel and tourism are critical to the American economy. This growing industry offers significant potential for job creation across all regions of the country. Federal policies on matters ranging from national security to transportation and from trade to natural resources management affect travel and tourism, and its potential for growth. In a global economy, a range of businesses depend on travel and tourism policies to enable clients, customers, and colleagues to conduct business in the United States. In addition, ensuring that international visitors have a positive experience in America is an essential component of our public diplomacy and U.S. foreign policy. In 2011, the travel and tourism industry generated $1.2 trillion and supported 7.6 million jobs. Real travel and tourism spending grew 3.5 percent in 2011, outpacing the 1.7 percent growth rate for the economy as a whole. As a travel destination, no other nation can compete with the diversity of experiences found across...

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2018 Travel and Hospitality Industry Outlook

Global travel industry gross bookings reached $1.6 trillion in 2017, making it one of the largest and fastest growing sectors in the world. Factoring in indirect economic contributions, travel and tourism now accounts for a staggering 10.2 percent of global GDP.

A strengthening global economy lies at the heart of industry growth. Each year, the global traveler pool is flooded with millions of new consumers from both emerging and developed markets, many with rising disposable incomes and a newfound ability to experience the world. A sleeping giant has truly awakened—the impact of which cannotmbe underestimated.

Over the past two decades, the number of international travel departures across the globe has more than doubled from roughly 600 million to 1.3 billion (see figure 1). Many travelers from emerging countries are leaving domestic borders for the very first time, injecting billions of dollars of new growth into the travel economy and helping the industry outpace global GDP. Growth appears...

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