Global visitors are traveling less to the United States, signaling a sharp downturn across major inbound markets.

According to the U.S. Department of Commerce International Trade Administration, the number of international visitors, excluding those from Canada and Mexico, declined by 2 percent in February and plunged 12 percent in March.

Canadian travelers remain the largest source of inbound tourism, accounting for roughly a quarter of all foreign visitors. Mexico, the second-largest market, recorded a 23 percent year-over-year drop in air arrivals to the U.S. in March.

A new report from Tourism Economics, part of Oxford Economics, forecasts a potential $64 billion loss for the U.S. tourism industry in 2025. The February 27 report revises earlier projections sharply downward, now predicting a 5.1 percent decline in visits, compared to an earlier forecast of an 8.8 percent increase.