European, Canadian travelers opt for vacations outside the U.S.

The U.S. currently has a $51 billion travel deficit.

Transcript

00:00While Americans continue to travel abroad, the number of foreign visitors to the U.S. is plummeting.

00:05According to the International Trade Administration, the number of foreigners traveling to the U.S.

00:09dropped 10 percent year over year in March and is down roughly 13 percent from before the pandemic.

00:15The U.S. currently has a 51 billion dollar travel deficit.

00:19That means Americans are spending far more abroad than foreigners do when they visit here.

00:23That's a huge problem considering the U.S. travel and tourism industry brings in more than one trillion dollars

00:28in direct spending each year.

00:30And that drop is now beginning to affect the air travel industry.

00:34United Airlines said it saw a 6 percent year over year drop from travelers coming from Europe to the States,

00:39while trips originating in Canada are down 9 percent.

00:42Delta acknowledged it's seen a similar decline.

00:45Global travel and tourism is an 11 trillion dollar industry.

00:49That'll do it for your daily briefing.

00:50From New York City, I'm Kelsey Barbario with The Street.