Visual Capitalist just dropped a map showing 48.9 million overseas visitors to U.S. states in 2024.
It's a clean visualization. But there's a massive blind spot.
๐ง๐ต๐ฒ ๐๐ผ๐ป๐ฐ๐ฒ๐ป๐๐ฟ๐ฎ๐๐ถ๐ผ๐ป ๐ฅ๐ถ๐๐ธ:
Over 50% of overseas visitors went to just four states:
โ New York: 9.8M
โ Florida: 8.9M
โ California: 6.7M
โ Nevada: 2.5M
If your tourism-dependent retail or hospitality portfolio is concentrated in these markets, you're exposed. One geopolitical shift, one currency swing, one policy change and your traffic assumptions need rewriting.
๐ง๐ต๐ฒ ๐๐ฎ๐๐ฎ ๐๐ฎ๐ฝ:
Here's what the map doesn't show: Canada and Mexico.
In 2024, Mexican land visitors alone totaled 13.4 million. Where did they go?
โ California: 6.2M
โ Texas: 4.9M
โ Arizona: 1.5M
Canadian air visitors added another 9.7 million:
โ Florida: 2.4M
โ California: 1.9M
โ Nevada: 1.4M
โ New York: 1.1M
That's 23+ million visitors from our two closest neighbors, not showing up in the "overseas" data.
๐ง๐ต๐ฒ ๐ง๐ฎ๐ธ๐ฒ๐ฎ๐๐ฎ๐?
๐ฃ๐ผ๐ฟ๐๐ณ๐ผ๐น๐ถ๐ผ ๐ฑ๐ถ๐๐ฒ๐ฟ๐๐ถ๐ณ๐ถ๐ฐ๐ฎ๐๐ถ๐ผ๐ป ๐บ๐ฎ๐๐๐ฒ๐ฟ๐. Tourism-heavy assets in the top four states carry concentration risk that most underwriting ignores.
๐๐ผ๐ฟ๐ฑ๐ฒ๐ฟ ๐๐๐ฎ๐๐ฒ๐ ๐ฎ๐ฟ๐ฒ ๐๐ป๐ฑ๐ฒ๐ฟ๐ฐ๐ผ๐๐ป๐๐ฒ๐ฑ. Texas and Arizona look modest on the overseas map, but cross-border traffic tells a different story. You can't ignore Canada and Mexico in looking at the big picture.
