President Obama quietly signed into law the first-ever travel promotion and communications program in early March. The travel industry hails the measure as a major victory in the battle to halt America’s lagging success in attracting foreign visitors to our shores.
Our country welcomed nearly 2.5 million fewer visitors in 2009 than it did in 2000. The price tag for this downhill trend is estimated to exceed $500 billion in total spending and some $30 billion in direct tax receipts, according to the U.S. Travel Association.
“By signing the Travel Promotion Act, President Obama has acted to support the power of travel to serve as an economic stimulant, job generator and diplomatic tool,” said Roger Dow, president and CEO of the U. S. Travel Association.
“This program will create tens of thousands of American jobs and help reverse negative perceptions about travel to the U.S.”
Caroline Beteta, president and CEO of the California Travel & Tourism Commission said, “We have already seen the benefits of a public-private partnership in states like California and Florida.
“Destinations and local communities across the country will benefit from a comprehensive national effort to market the U.S.A. brand. The Travel Promotion Act will help keep the United States competitive in the international marketplace.”
Oxford Economics estimates that a successful national promotion will yield $4 billion in new spending each year, create 40,000 new jobs and bolster tax revenues by more than $320 million annually.
The initiative will be funded by a matching program with up to $100 million in private-sector contributions and a $10 fee on foreign travelers who do not pay $131 for a visa to enter the United States. No money for the program will come from U. S. taxpayers.
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Article Comments
Kate Whitaker says:
Great research Bill on all the economic stats.
April 15th, 2010 at 1:29 pm ::
Bill says:
Thanks, Kate. We often forget the economic muscle of the tourism industry.
April 15th, 2010 at 1:59 pm ::
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