Your Money Minute – “International Tourism To US Falls”

Podcast: Your Money Minute
Host: Jessica Ettinger (CNBC)
Date: September 19, 2025
Featured Guest: Monica Petrelli (CNBC Travel Reporter), Michael Russo (Air Canada CEO)
Episode Theme:
A snapshot into the sharp decline of international tourism to the United States, the reasons behind it, and its broader financial implications.

Episode Overview (00:00–01:21)

Jessica Ettinger examines new data revealing a significant downturn in international travel to the US and its widespread economic impact. She brings in insights from CNBC’s travel reporter Monica Petrelli and Air Canada’s CEO Michael Russo to discuss causes, including policy changes and shifting perceptions of safety and stability.

Key Discussion Points & Insights

1. Steep Drop in International Visitors (00:00–00:12)

• Main Point: After a 10% rise in international tourism to the US in June 2024, there’s now a 3% year-over-year decline for June 2025.
  • “International visitors are ditching their trips to the United States like never before, from a 10% increase in June of last year to a 3% drop in June of this year.”
    — Jessica Ettinger (00:02)
• Significance: Billions in revenue are at stake for American businesses reliant on foreign visitors.

2. Canadian Tourists Respond Most Sharply (00:13–00:24)

• Insight: Canadians lead the way in postponed or canceled US visits.
  • “No country has responded as much as Canadians have in terms of postponing or canceling trips to the US altogether.”
    — Jessica Ettinger (00:13)
• Reasoning: Travel decisions are swayed by both policy and sentiment.

3. Causes: Tariffs, Policy, and Perceptions (00:25–00:38)

• Monica Petrelli highlights:
  • Factors:
    • New tariffs
    • Stricter border controls
    • “America First” policy postures
  • Result: Tourists are choosing alternative destinations.

4. Airline Bookings Down, Shifting Preferences (00:39–00:52)

• Michael Russo (Air Canada CEO):
  • Air Canada is the largest foreign operator into the US, flying to 50+ cities.
  • “Our bookings going over the next six months are down about 10%. Canadians are deciding to travel within domestic Canada or potentially to Europe.”
    — Michael Russo (00:46)
• Implication: Domestic and European trips are favored over US travel.

5. Asian Market Perspective (00:53–01:04)

• Petrelli Insight:
  • Petrelli, reporting from Singapore, notes more than half of those surveyed there have lost interest in visiting the US.
    • “More than half surveyed by CNBC [in Singapore] said they’re less interested in visiting the US now.”
      — Jessica Ettinger (00:53)

6. Concerns Over Safety and Social Climate (01:05–01:21)

• Direct Quotes from Surveyed Travelers:
  • “The situation is not stable, so I’m probably not considering to travel to U.S.”
    — Anonymous (01:04)
  • “My perception of the U.S. has changed. I feel that it’s become more of an unsafe place. Yeah. Because of my racial status. It seems quite unsettled.”
    — Anonymous (01:10)

Notable Quotes & Memorable Moments

• Economic Impact:
  • “It means billions of dollars to American businesses.”
    — Jessica Ettinger (00:08)
• Air Canada’s Unique Position:
  • “We fly to over 50 cities within the United States. Our bookings...are down about 10%.”
    — Michael Russo (00:44)
• Changing Global Perceptions:
  • “My perception of the U.S. has changed. I feel that it’s become more of an unsafe place.”
    — Singaporean respondent (01:10)

Timestamps for Key Segments

• 00:00–00:12: Introduction and headline data on tourism drop
• 00:13–00:24: Canada’s outsize response to US travel conditions
• 00:25–00:38: Causes: Tariffs, border, and “America First”
• 00:39–00:52: Michael Russo details shifts in Canadian travel patterns
• 00:53–01:04: Monica Petrelli’s Asia survey findings
• 01:05–01:21: Individual travelers express safety and social concerns

Summary Takeaway

This concise episode unpacks a critical shift: international tourism to the US is now falling, with protective policies and growing concerns about safety and social stability pushing travelers—especially Canadians and Singaporeans—to look elsewhere. The ramifications are significant for businesses relying on foreign visitors, while shifting traveler attitudes around safety and belonging create a new, more complicated landscape for US-bound tourism.