I have a client who is in the hospitality biz in the upper midwest (SD, MN, MI, OH, etc). They have a few dozen hotels and resorts. And other than two popular properties, they are all down in revenue. Especially noticeable is the drop in Canadian visitors.
Vegas has their own set of issues but this is hitting a lot in the tourism/hospitality industry.
U.S. Tourism Will Lose Up To $29 Billion As Visitors Plummet Amid Trump Policies
Key Facts
Last month, a study from the World Travel & Tourism Council (WTTC) that analyzed the economic impact of tourism in 184 countries revealed the U.S. was the only country forecast to see international visitor spending decline in 2025.
The WTTC projects the U.S. to be on track to lose $12.5 billion in international visitor spending this year compared to last year, according to the research.
It could be argued, however, that the actual losses will be significantly larger, given that Tourism Economics, a division of Oxford Economics, had originally forecasted the U.S. would see a 9% jump in international inbound travel in 2025.
A 9% increase would have equated to a boost of about $16.3 billion in revenue for the U.S. economy.
Instead, Tourism Economics has revised its baseline forecast to a year-over-year decline of 8.2%—a significant 17.2% variance from its original 9% increase.
From the anticipated $16.3 billion increase in revenue to a loss of between $8.3 billion (Tourism Economics estimate) and $12.5 billion (WTTC estimate), the U.S. is facing a shortfall of $25 billion to $29 billion this year.
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https://www.forbes.com/sites/suzannerowankelleher/2025/07/03/us-tourism-lose-29-billion-trump-policies/
$715 Million in Taxes, $2.5 Billion in Spending Power at Risk
WASHINGTON, DC, August 6 — A new report released today by the American Immigration Council details the sweeping economic and humanitarian toll of the Trump administration’s June 2025 travel ban, which restricts immigration from 19 countries. In 2022, nearly 300,000 people from these countries came to the United States, filling critical jobs and paying up to $715.6 million in taxes.
“Those affected by this travel ban are students, workers, and family members who pay taxes, support local economies, and fill jobs in industries facing massive shortages. We’re throwing all of that away, to the detriment of our communities and the U.S. economy,” said Nan Wu, research director of the American Immigration Council.
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https://www.americanimmigrationcouncil.org/press-release/report-reveals-devastating-impact-trump-expanded-travel-ban/
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