•David

For 2017 YTD through 31 August, top-3 gains and losses among top-20 national source markets were:

Gains:

1. South Korea +17.4%, 1.51M arrivals (many to NYC)
2. Ireland +6.8%, 295K arrivals (diaspora ties, and EUR strengthening against USD)
3. Canada +4.5%, 14.0M arrivals (CAD still weak but strengthening against USD)

Losses:

1. Argentina -20.2%, 495K arrivals (Argentine peso dropped 15% against USD in 2017)
2. India -13.2%, 849K arrivals (Trump "Buy American, Hire American" initiative is likely a factor.)
3. Brazil -11.7%, 980K arrivals (Brazilian economy was in its all-time worst recession in 2017; some signs of recovery now)

Note that South Korea sent more visitors than Argentina and India combined, and Canada's 14M arrivals is 5X that of any other country except for #2 Mexico with 11M.