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 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.