U.S. Travel President and CEO Roger Dow appeared on Fox Business Monday morning to discuss the findings of U.S. Travel’s latest forecast, which was released last week.
America’s share of the global long-haul travel market fell from 13.7% in 2015 to its current 11.7%. The decline in market share represents losses to the U.S. economy of 14 million international visitors, $59 billion in international traveler spending and 120,000 U.S. jobs.
According to the latest forecast figures, the U.S. will continue losing market share, falling to just 10.9% by 2022.
Dow spoke about the difficult headwinds the travel industry faces in the form of a strong dollar and prolonged and rising trade tensions. In response to the question of whether anything could be done to reverse the downward trend, Dow cited the long-term reauthorization of Brand USA as being a key policy initiative that could help America regain its lost market share.
Dow also pointed to the expansion of the Visa Waiver Program to include more qualified countries as a way to reverse the troubling decline in market share.
Please click here to view U.S. Travel’s forecast.
U.S. Travel Association
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