MARKET NEWS

The Plan To Reinvigorate US Tourism

By: Anneken Tappe · January 16, 2024 · Reading Time: 2 minutes

Lagging Behind

U.S. citizens may be traveling in record numbers. But when it comes to attracting international travelers, the U.S. is lagging significantly behind.

America ranked 17th out of 18 nations with high travel traffic, including the likes of Canada, France, Italy, South Africa, and Spain, according to Euromonitor International, which weighed government leadership, global perception, identity and security, and travel connectivity.

Between the pandemic, visa delays, and political division, foreign tourism in the U.S. is sitting at only 84% of 2019 visitation levels, according to the U.S. Travel Association. Here’s what’s being done to change that.

The Plan For 2024

In 2022, America’s travel sector brought in $1.2 trillion from both international and domestic visitors, so attracting more foreign tourists could provide a boost to the U.S. economy.

The U.S. Travel Association announced the Commission for Seamless and Secure Travel, which is intended to use the input of hotel executives, business owners, and airline operators to modernize processes like customs, visa processing, and security lines. And smoother travel will benefit domestic as well as foreign travelers.

Looking for more stories like this? Check out On the Money — SoFi’s one-stop-shop for news, trends, and tips!

Check it out


Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.
SOSS24011602

TLS 1.2 Encrypted
Equal Housing Lender