International tourism spending in the U.S. is expected to fall by $8.5 billion in 2025, according to CNBC. The spending decline works out to a drop of about 5 relative to last year and is a result of less foot traffic. International arrivals to the U.S. are expected to fall about 9 this year, Aran Ryan, director of industry studies at Tourism Economics, part of Oxford Economics, wrote in a research note last week. Flight bookings to the U.S. are down 11 year over year through July, with Canada and Europe lagging even more sharply. The U.S. Travel Association warns the total impact could reach $21 billion in lost revenue.