US remains top destination for retail tourism


US remains top destination for retail tourism

Monday, 25 Aug, 2023 0

The US remains the preferred choice for shopping vacations, according to World Travel & Tourism Council data.

‘Retail tourism is a thriving market segment’ WTTC President Julia Simpson said at the recent Virtuoso Travel Week.

According to the report, in 2019 retail tourism was worth US$178.2 billion, equivalent to 6% of the tourism sector, and can represent more than 15% in some destinations.

Historically, retail tourism has been overlooked by researchers; resulting in limited data for analysis.

The latest report by WTTC seeks to correct that, providing insights into shopping habits when traveling.

The latest data named the US as the largest contributor of retail tourism to GDP in 2019 (US$34.7 billion).

Despite the challenges posed by the pandemic, the US retained its leading position in 2020 with US$17.5 billion, and grew in 2021.

That year it contributed US$23.9 billion to the country’s economy.

“Our latest findings on the US reinforce its allure as a shopping mecca, highlighting the vital role that retail tourism plays,” Simpson added

Simpson say incentives like tax-free shopping have seen retail tourism revenues boom.

Countries like the UK that scrapped tax-free shopping have seen visitors move to other countries like France or Italy.

The upcoming WTTC report, published next month, seeks to provide a comprehensive overview of retail tourism, highlighting emerging trends, the challenges and opportunities.

The report was created by WTTC and the Hospitality and Tourism Research Centre of The Hong Kong Polytechnic University, in collaboration with The Bicester Collection.



 

profileimage

TravelMole Editorial Team

Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.



Most Read

Walt Leger on New Orleans’ Resilience and Major Events Ahead

Cindy Mackin Shares Estes Park’s Winter Thrills

Mark Jaronski of Explore Georgia on FIFA World Cup 2026

Connecting Small Businesses to Global Tourism Markets: Nate Huff of Tourism Exchange

North Carolina’s Resilience: Wit Tuttell on Recovery and Tourism

Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns

James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel

Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination

Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics

Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy

Bubba O’Keefe on Clarksdale’s Vibrant Music Scene

Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
TRAINING & COMPETITION

Our emails to you has bounced travelmole.com Or You can change your email from your profile Setting Section

Your region selection will be saved in your cookie for future visits. Please enable your cookie for TravelMole.com so this dialog box will not come up again.

Price Based Country test mode enabled for testing United States (US). You should do tests on private browsing mode. Browse in private with Firefox, Chrome and Safari