More Americans are traveling to Europe than Europeans traveling to the US, leading to a significant tourism-related trade gap, reflecting the strength of the U.S. economy and its vulnerability.
The U.S.-European travel trade balance shifted from a surplus of $1.4 billion in 1999 to a $27.3 billion deficit last year, the largest recorded in the 2000s.
Monetary tailwinds like a strong dollar and high prices in the US are enticing Americans to travel to Europe to take advantage of perceived price differences.
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