News article | World Travel and Tourism Council (WTTC)

The economy could lose up to $ 40million a day just because of the loss of UK visitors

Miami, Florida: The latest research by the World Travel & Tourism Council (WTTC) into spending on inbound international travel has revealed that the United States economy faces a potential daily loss of nearly $ 198 million whether current border restrictions persist.

Based on 2019 levels, of the top 20 markets for inbound spending, less than half currently have access to the United States, severely affecting the recovery of the country’s travel and tourism sector. The data is based on spending entering the United States by countries that are still banned from traveling, as reported by the Centers of Disease Control & Prevention (CDC).

The US remains closed to many of the biggest contributors to the US economy in terms of visitor spending in 2019, before the pandemic hits, including the UK (8%), Germany (4% ), France (3%) and Italy (2%).

According to these figures, the US economy continues to experience significant financial difficulties as a result of current inbound travel protocols, with potential monthly losses of more than $ 1.2 billion, or roughly $ 283 million per week. or $ 40 million a day, from the UK market alone.

The successful deployment of vaccines in the UK (66% fully vaccinated), Germany (62% fully vaccinated), France (62% fully vaccinated) and Italy (63% fully vaccinated) has resulted in relaxation of travel restrictions . However, with some countries recently placing new restrictions on unvaccinated visitors from the United States, it is time for the United States to open up its borders and donate to the travel and tourism industry, as well as to its economy, a much needed boost.

While the United States currently occupies the position of the world’s largest travel and tourism market, the country runs the risk of falling in the rankings if a clear roadmap on re-engagement with international leisure and business travelers. is not carried out at the start of the fall season. The coherence of domestic travel alone will not allow a full economic recovery of the country.

The WTTC’s 2020 Economic Impact Report found that travel and tourism supported more than 16.5 million jobs (10.5% of total US employment) in 2019. Business travel with the United States accounting for $ 358 billion in 2019 (30% of total spending), financial growth cannot occur with current mobility to the borderline country.

As more than half of the 50 states in the United States are nearing an end date or have already ended federally funded unemployment programs, there has never been so much a call to action. for a revitalization of the American business sector.

Julia Simpson, President and CEO of the WTTC, said:

“The US economy and global ranking in contribution to GDP are threatened every day that US borders remain closed to travelers. The US economy stands to lose hundreds of millions by remaining closed to major source markets such as the UK and the EU.

Keeping the United States safe is the top priority, but blocking entire countries where COVID-19 is under control will cause long-term damage to livelihoods in the United States. Entry should be based on the status of the individual and not by country.

As a leader in both the leisure and global business sectors, the United States is in a unique position to set the tone for a safe restart of the travel and tourism industry. The WTTC urges the Biden administration to establish a clear roadmap for reopening to international travel. “

WTTC research shows the dramatic impact COVID-19 has had on the travel and tourism sector in the United States, its contribution to national GDP increasing from $ 1.87 trillion in 2019 to $ 1.1 trillion in 2020. The ability to recoup lost profits and remain the world’s largest contributor to travel and tourism is at stake if the United States does not make drastic progress towards a safe reopening to other countries of the world.

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