The U.S. currently has a $51 billion travel deficit.
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00:00While Americans continue to travel abroad, the number of foreign visitors to the U.S. is
00:04plummeting. According to the International Trade Administration, the number of foreigners
00:08traveling to the U.S. dropped 10% year-over-year in March and is down roughly 13% from before
00:14the pandemic. The U.S. currently has a $51 billion travel deficit. That means Americans
00:20are spending far more abroad than foreigners do when they visit here. That's a huge problem
00:24considering the U.S. travel and tourism industry brings in more than $1 trillion in direct
00:29spending each year. And that drop is now beginning to affect the air travel industry. United
00:34Airlines said it saw a 6% year-over-year drop from travelers coming from Europe to the States,
00:39while trips originating in Canada are down 9%. Delta acknowledged it's seen a similar decline.
00:45Global travel and tourism is an $11 trillion industry. That'll do it for your daily briefing.
00:50From New York City, I'm Kelsey Barbario with The Street.