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The United States recorded a $2.2 billion travel trade deficit in January 2026 as Americans increased their spending abroad while international visitor spending declined.
Data released by the National Travel and Tourism Office show that outbound travel spending reached nearly $23.1 billion, up 7% year-on-year, while inbound travel spending totalled $20.9 billion, down 3% compared with January 2025.
The figures highlight a widening gap between money flowing out of the country and revenue generated from international visitors. The imbalance comes at a time when global travel demand remains uneven, with fewer foreign travellers spending in the US despite steady activity in some segments.
Spending by international visitors on goods and services within the US reached $11.7 billion in January, a 3% decrease from $12.1 billion a year earlier. These travel receipts, which include accommodation, food, entertainment, local transport and retail purchases, accounted for 56% of total travel exports.
Key components of US travel and tourism exports in January include:
- $11.7 billion in travel spending by international visitors
- $3.2 billion in passenger fare receipts, up 0.2%
- $6.0 billion in medical, education and short-term worker spending
Passenger fare receipts, representing spending by foreign residents on international flights operated by US carriers, remained largely unchanged at $3.2 billion. This category accounted for 15% of total travel and tourism exports during the month.
Meanwhile, spending linked to education, medical tourism and short-term workers totalled $6.0 billion, down 4% compared with January 2025. This segment represented 29% of overall travel exports, reflecting continued demand but at lower levels than the previous year.
In summary,
- Americans are travelling abroad more frequently or spending more per trip
- Inbound tourism to the US shows signs of slowing
- Airfare-related spending remains stable despite broader declines
- Education and medical travel continue to play a significant role
The latest figures suggest that while outbound demand from US travellers remains strong, attracting international visitors remains a challenge. The resulting deficit underscores the importance of inbound tourism to the country’s overall travel economy.
Photo Credit: StockMediaSeller / Shutterstock.com
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