Voluntarist
Member
- Joined
- Sep 10, 2011
- Messages
- 3,830
Like, travel to the US is, in fact, down?
You can leave the question mark off that one
The US economy is set to lose billions of dollars in revenue in 2025 from a pullback in foreign tourism and boycotts of American products, adding to a growing list of headwinds keeping recession risk elevated.
Arrivals of non-citizens to the US by plane dropped almost 10% in March from a year earlier, according to data published Monday by the International Trade Administration. Goldman Sachs Group Inc. estimates in a worst-case scenario, the hit this year from reduced travel and boycotts could total 0.3% of gross domestic product, which would amount to almost $90 billion.
Hey it's less than 1% of GDP. And just think what lowered foreign demand means for Americans touring America. Lower demand for hotels. Lower demand for food while traveling. Lower demand for transportation expense. Lower demand for entertainment. Hell, that's a panacea for American tourists wanting to tour the US. Not so much for American business, but if you have money to spend on vacations, then American vacations will cost a lot less. Except, you probably won't be able to afford even an American vacation if you work in the American hospitality business.