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The following article was published in our article directory on December 27, 2010.
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United States Tourism Consumption Driven Economy

Article Category: Business Management

Author Name: xia zihui

Tourism celebrate Christmas, Americans celebrate this most important traditional festival one of the ways. However, the post-crisis era, high unemployment made Americans shy pocket, in some people choose to "home leave", while others put the holiday travel and business activities, combined after all, a smart move. The lure of the dollar declines, the more foreign tourists travel to the United States as a tourist destination for a large number of foreign tourists in the U.S. consumer, directly stimulating the growth of the U.S. economy.

In early 2010, the Americans Joel Griffiths and Ryan Griffiths brothers travel together to China. Before his brother Joel is expected this year against the U.S. dollar appreciated from the beginning of 1:6.8 to 1:5. Joel exchange with $ 100,000 in 68 million yuan, the Chinese eat, drink spend 180,000 yuan a year, intends to use the rest of the end of 50 million yuan to be exchanged for $ 100,000 when the home. The estimated error, unable to do so, just exchange for $ 76,000, but the exchange rate than the beginning of the year, still more than 2 more than one thousand U.S. dollars.

Some of his younger brother Ryan is smart, beginning with a $ 100,000 conversion of 68 million yuan, first spend 50 million in second-tier cities to buy a small apartment, and the remaining 18 million to spend. At the end to go back, can not be taken away only to sell the house, due to rising house prices, shot a net gain of 700,000 yuan, exchange hand $ 105,000.

Westerners traveling abroad is a great hobby. Leading U.S. travel advisory company "Lonely Planet" report said that before the crisis, average Americans spend on travel expenses equivalent to one month's labor income per capita, about the country's gross domestic product (GDP) of 8% ; most of the people who travel abroad will the Caribbean, Canada and Europe as a preferred destination.

After the outbreak of the financial crisis, the situation has changed greatly. U.S. Department of Commerce data show that in 2008 the United States reduce the number of international flights by 1.4% in 2009, a decrease of 1.8% in 2010 no significant improvement in the situation. Decline in the proportion of flights to Europe later in 2008, down 6.2% in 2009, down 4.2% in 2010 decreased by 6.7% so far. Analysts expected this year, visitors to Europe than the United States before the financial crisis of 2007, down 17%.

Travel economist James said in previous years vacation, in the Louvre, the Eiffel Tower or go on a train in Europe, American tourists can be seen everywhere. Travel together old, middle-aged church, noisy students, their carrying shoulder bags in hand, "European Travel Guide", as the American sense of superiority and loneliness.

Today, more and more Americans to vacation together tourism and business activities, and more business people with their families fly to Asian emerging economies, in business at the same time enjoy the holiday. United States Hotels interactive website, said that with U.S. companies increased investment in the Asian region, the number of business travelers will continue to rise. The site is expected in Asia, particularly China, will be a period of time Americans traveling abroad next most popular first choice. The latest U.S. Department of Commerce statistics show that, as of the end of November, 2010 to fly to Asia than the number of U.S. tourists increased by 7% over the same period in 2009, 2011, on this basis will be an additional two percent or so.

Federal Reserve to implement monetary policy of quantitative easing, the dollar depreciation has been traveling the United States to become the choice of many foreign tourists. This will reduce the U.S. trade deficit, stimulate economic growth, no doubt, is a major positive.

At the turn of this summer and fall, New York, packed with tourists from around the world, in the abandoned elevated railway line built in the site, "the High Line," where, from Brazil, India, China and other emerging economies, foreign visitors a leisurely walk consumption, the speed of economic recovery in these countries than developed countries, people consume it also appears to "big spenders."

Tourism Bureau data show that the United States, from the fourth quarter of 2009, the number of foreign tourists traveling to the United States rebounded. Up to now, more than the number of inbound tourists by 2010 million, compared with the same period last year grew by about 15%; of which China has exceeded one million U.S. visitors, an increase of 30%. Since December 2007 China-US tourism memorandum signed and implemented, the average annual growth rate of Chinese citizens traveling to the United States more than 20%.

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