IN THE NEWS: WORTH – Bringing International Travelers Back to America

America’s share of the global travel market has shrunk over the last two years, from 13.6 percent in 2015 to 11.9 percent last year. This lucrative market is expanding, yet our country continues to fall behind. While global long-haul travel volume rose by 7.9 percent overall, growing numbers of international travelers are choosing destinations in Europe or Asia over trips to the U.S. Our top competitors, such as France, Germany and the United Kingdom, all saw their global travel market shares go up. In fact, Spain recently announced that it has surpassed the U.S. to become the world’s second-most-visited country.

I’m not exaggerating when I say that millions of American jobs are at risk if this trend continues, and that the consequences for our country’s economy could be dire—even amidst the relatively strong fundamentals and low unemployment rate we are currently enjoying. A 1.7 percent decline, from 13.6 percent to 11.9 percent, may not seem like much, but let me put it this way: If we had merely maintained our 2015 percentage share of the global market, our economy would have benefitted from 7.4 million additional overseas visitors, $32.2 billion in additional spending and 100,000 additional American jobs.

Original article found here.