There is a bright spot on the US's economy inspite of the doom and gloom in the other sector such as housing and construction business.
On Monday Nov 19, 2007, the U.S. Commerce Department said that a record number of foreigners visited the United States this summer. The visitors spent unprecedented amounts of money. As a matter of face, the 14.3 million visitors who came to the United States this summer spent a record $30.7 billion, this is 14 percent more than in summer 2006. Visitors' spending exceeded previous records in each of the three months from June to August.
International visitors have spent $78.4 billion in the United States during the first eight months of 2007, up 11 percent from the same period last year and on track to surpass the record set in 2006 of $107.9 billion, the department said.
This summer's tally showed a 16 percent rise in visitors from Western Europe, a 12 percent increase from the United Kingdom and an 8 percent gain from Eastern Europe.
Visits from Asia increased 6 percent in June, July and August with gains of 37 percent and 30 percent respectively for India and China, the Commerce Department said.
(Reporting by Doug Palmer; Editing by Cynthia Osterman - Reuters)