It seems that when it comes to the economy, all eyes are on production and manufacturing. However, there is one sector of the economy that's really successful in reining in the U.S. balance of trade deficit, but somehow still flies under the radar: Inbound travel & tourism to the U.S. (counts towards export services).
According to figures released by the National Travel and Tourism Office (NTTO), the balance has dipped year-over-year by 14 percent, from plus $97.2 billion in 2015 to $83.9 billion in 2016. A trend that shouldn't continue.
U.S. Inbound Travel & Tourism is America's Most Valuable Export Service
Travel & Tourism
Description
U.S trade balance for goods & services and trade balance for travel & tourism (in $b)
