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Forbes, 10/12: U.S. Economy Losing Billions As 'Trump Slump' Continues In Tourism Sector
https://www.forbes.com/sites/alexandratalty/2017/10/12/us-economy-losing-billions-as-trump-slump-continues-in-tourism-sector/#3e669711869aTourism is the seventh largest employer in the US economy. In 2012, nearly 84% of travel companies identified themselves as small businesses. For those Americans, the outlook is bleak.
Over the first three months of Donald Trump's presidency, 697,791 fewer foreigners visited the U.S. than normal, down 4.2% to 15.8 million people, according to new figures released by the U.S. Department of Commerce. That drop accounted for $2.7 billion in spending, according to Tourism Economics.
In cities like New York, foreign tourists spend four times as much as domestic tourists, so even slight drops in inbound arrivals spell big losses for the U.S. economy. According to US Travel, international travel spending directly supports 1.2 million American jobs, accounting for nearly $32.4 billion in wages. They estimate that the typical overseas traveler spends around $4,360 when visiting the United States, over an 18 night stay.
Cities across the U.S. have seen the writing on the wall and are bracing for declining tourism revenues. Los Angeles Tourism board led the charge earlier this year, putting millions towards a marketing campaign to welcome foreigners with a gigantic human powered sign that welcomed incoming planes in four languages. Other tourism boards have followed suit with their own campaigns.
But as the third executive announcement is implemented and the Supreme Court hearing on the previous travel bans is cancelled, many industry experts wonder if this is just the beginning of another lagging sector in the U.S. economy as tourists choose destinations with easier, more comprehensive visa policies.
Over the first three months of Donald Trump's presidency, 697,791 fewer foreigners visited the U.S. than normal, down 4.2% to 15.8 million people, according to new figures released by the U.S. Department of Commerce. That drop accounted for $2.7 billion in spending, according to Tourism Economics.
In cities like New York, foreign tourists spend four times as much as domestic tourists, so even slight drops in inbound arrivals spell big losses for the U.S. economy. According to US Travel, international travel spending directly supports 1.2 million American jobs, accounting for nearly $32.4 billion in wages. They estimate that the typical overseas traveler spends around $4,360 when visiting the United States, over an 18 night stay.
Cities across the U.S. have seen the writing on the wall and are bracing for declining tourism revenues. Los Angeles Tourism board led the charge earlier this year, putting millions towards a marketing campaign to welcome foreigners with a gigantic human powered sign that welcomed incoming planes in four languages. Other tourism boards have followed suit with their own campaigns.
But as the third executive announcement is implemented and the Supreme Court hearing on the previous travel bans is cancelled, many industry experts wonder if this is just the beginning of another lagging sector in the U.S. economy as tourists choose destinations with easier, more comprehensive visa policies.
12 replies
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In 2018, It'll resemble ......
Unfortunately, those of us non-1%'ers will be in pain economically/financially. But that was the PLAN all along though 
