OMB is approving the revised forms sent by BEA on Wed 7/9/2008 as shown in the OIRA Review/Edit ICR Package section.
Inventory as of this Action
Requested
Previously Approved
07/31/2011
36 Months From Approved
6,000
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0
1,000
0
0
0
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BEA needs information on international travel expenditures by method of payment in order to improve the travel component of the US international transactions accounts. These data will be used in conjunction with data on credit card transactions to estimate travel expenditures by US travelers abroad and by foreign travelers in the US. Respondents are US and foreign travelers that are passing through US international airports upon completion of their travel abroad and in the US, respectively.
EO: EO 10033 Name/Subject of EO: Bretton Woods Agreements Act
The survey of international travel expenditures is authorized by the Bretton Woods Agreements Act, Section 8, and E.O. 10033, as amended. The Act allows the Commerce Department to collect the data necessary to produce the U.S. international transactions accounts, which are part of the U.S. obligations to the International Monetary Fund.
The Bureau of Economic Analysis (BEA) produces the International Transactions Accounts (ITAs) of the United States. These accounts provide a comprehensive and detailed view of economic transactions between the United States and other countries. In addition, they provide input into other estimates throughout BEA, contributing particularly to the National Income and Product Accounts. They are used extensively by both government and private organizations for national and international economic policy formulation and for analytical purposes. The services transactions accounts are contained within the current account of the ITAs and are divided into several major categories. Travel is a major component of trade in services in the ITAs, accounting for over 20 percent of both exports and imports of services in 2006. BEA has identified weaknesses in the data covering travel expenditures.
The information collection is necessary for improving the quality of the travel component of the ITAs. BEA seeks to improve the quality of these important estimates by using data on credit card transactions to form the core of the travel estimates. Because these data would be based on business records and account for a large portion of travel expenditures, their use would greatly improve the accuracy of the travel estimates. In order to create universe estimates of travel using credit card data, a survey of international travelers (U.S. travelers abroad and foreign visitors to the United States) is needed to estimate those transactions involving other means of payment. This survey of travelers is the subject of this supporting statement. The survey will ask U.S. and foreign travelers passing through U.S. international airports upon completion of their trip to report their expenditures by method of payment. The method of combining data from business records with an efficient statistical survey of travelers will be a major improvement to the travel estimates.
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.