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NEWS
'Trump Slump' could cost US tourism industry US$16bn
POSTED 27 Feb 2017 . BY Tom Anstey
President Donald Trump is trying to block people from seven Muslim countries from entering the US Credit: Shutterstock.com
US President Donald Trump’s highly-controversial travel ban has caused a 6.5 per cent drop globally in flight bookings to the US, a move which could cost the country billions in lost spending on tourism.

According to the the National Travel and Tourism Office, in 2016 visitors coming into the US spent US$247bn (€233bn, £199bn). If those numbers declined over the year at the same rate as the drop in bookings, that would amount to a loss of roughly US$16bn (€15bn, £13bn).

Forward Keys, a travel statistician firm, said that searches and booking for trips to the US had declined by 17 per cent since the President’s election. Additionally, those that were looking at US trips had insead changed course, with Russia and Canada top of the hot spots, along with The Caribbean, Mexico and Thailand.

Now dubbed the “Trump Slump”, Euromonitor first predicted the effect at the World Travel Market in November, saying that over the next five years, the US economy would reduce by just under 5 per cent, meaning that instead of a predicted growth of 1.5 to 2 per cent for 2017, the US economy would have marginal growth - around about 0.3 per cent this year.

In addition to affecting the US and its overseas travel markets in terms of visitor numbers, Euromonitor also predicted a weakened dollar, which has actually largely remained stable since Trump’s win, slightly rising from 99.13 to 100.91 on the on the US Dollar Index – a measure of the value of the dollar relative to a basket of six major foreign currencies.

Signed on 27 January, Trump's executive order attempted to block people from seven Muslim-majority nations from entering the US for 90 days. The order was later declared unlawful by a US court, though the President is still trying to push it through in a new format.
RELATED STORIES
  Iger warns Trump over trade and immigration policies


Disney chief Bob Iger has warned US president Donald Trump on his trade and migration policies, particularly in terms of a Chinese trade war, potentially pitting the entertainment giant against the will of the Oval Office.
  National endowments for arts and humanities face axe as Trump prepares first formal budget


The American Alliance of Museums (AAM) has raised extreme concerns over reports that President Donald Trump’s formal budget plan for fiscal year 2018 will eliminate both the National Endowment for the Humanities (NEH) and National Endowment for the Arts (NEA), a move which could be potentially devastating to the sector.
  US institutions offer Trump inauguration respite with series of special events on 20 January


A number of the US’s top museums and galleries are offering special events and some alternatives to the inauguration of President-elect Donald Trump on 20 January, with many institutions offering free or pay what you wish entry for the landmark day in American history.
  Bob Iger named as part of Donald Trump's policy forum


Disney CEO Bob Iger will be part of President-elect Donald Trump’s strategic and policy forum, with the first meeting to take place in February.
MORE NEWS
Disneyland Paris renames theme park as part of $2 billion transformation
Disneyland Paris has unveiled a new name for Walt Disney Studios Park as part of the park’s US$2 billion transformation.
UK's Royal attractions had a bumper year in 2023
Numbers from the Association of Leading Visitor Attractions, (ALVA) show that Royal attractions saw a huge increase in visitor numbers during 2023 – the coronation year of King Charles III.
Efteling to convert steam trains to electric as part of green drive
The Everyday Heritage initiative celebrates and preserves working class histories
Off the back of the success of the first round of Everyday Heritage Grants in 2022, Historic England is funding 56 creative projects that honour the heritage of working-class England.
+ More news   

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NEWS
'Trump Slump' could cost US tourism industry US$16bn
POSTED 27 Feb 2017 . BY Tom Anstey
President Donald Trump is trying to block people from seven Muslim countries from entering the US Credit: Shutterstock.com
US President Donald Trump’s highly-controversial travel ban has caused a 6.5 per cent drop globally in flight bookings to the US, a move which could cost the country billions in lost spending on tourism.

According to the the National Travel and Tourism Office, in 2016 visitors coming into the US spent US$247bn (€233bn, £199bn). If those numbers declined over the year at the same rate as the drop in bookings, that would amount to a loss of roughly US$16bn (€15bn, £13bn).

Forward Keys, a travel statistician firm, said that searches and booking for trips to the US had declined by 17 per cent since the President’s election. Additionally, those that were looking at US trips had insead changed course, with Russia and Canada top of the hot spots, along with The Caribbean, Mexico and Thailand.

Now dubbed the “Trump Slump”, Euromonitor first predicted the effect at the World Travel Market in November, saying that over the next five years, the US economy would reduce by just under 5 per cent, meaning that instead of a predicted growth of 1.5 to 2 per cent for 2017, the US economy would have marginal growth - around about 0.3 per cent this year.

In addition to affecting the US and its overseas travel markets in terms of visitor numbers, Euromonitor also predicted a weakened dollar, which has actually largely remained stable since Trump’s win, slightly rising from 99.13 to 100.91 on the on the US Dollar Index – a measure of the value of the dollar relative to a basket of six major foreign currencies.

Signed on 27 January, Trump's executive order attempted to block people from seven Muslim-majority nations from entering the US for 90 days. The order was later declared unlawful by a US court, though the President is still trying to push it through in a new format.
RELATED STORIES
Iger warns Trump over trade and immigration policies


Disney chief Bob Iger has warned US president Donald Trump on his trade and migration policies, particularly in terms of a Chinese trade war, potentially pitting the entertainment giant against the will of the Oval Office.
National endowments for arts and humanities face axe as Trump prepares first formal budget


The American Alliance of Museums (AAM) has raised extreme concerns over reports that President Donald Trump’s formal budget plan for fiscal year 2018 will eliminate both the National Endowment for the Humanities (NEH) and National Endowment for the Arts (NEA), a move which could be potentially devastating to the sector.
US institutions offer Trump inauguration respite with series of special events on 20 January


A number of the US’s top museums and galleries are offering special events and some alternatives to the inauguration of President-elect Donald Trump on 20 January, with many institutions offering free or pay what you wish entry for the landmark day in American history.
Bob Iger named as part of Donald Trump's policy forum


Disney CEO Bob Iger will be part of President-elect Donald Trump’s strategic and policy forum, with the first meeting to take place in February.
MORE NEWS
Disneyland Paris renames theme park as part of $2 billion transformation
Disneyland Paris has unveiled a new name for Walt Disney Studios Park as part of the park’s US$2 billion transformation.
UK's Royal attractions had a bumper year in 2023
Numbers from the Association of Leading Visitor Attractions, (ALVA) show that Royal attractions saw a huge increase in visitor numbers during 2023 – the coronation year of King Charles III.
Efteling to convert steam trains to electric as part of green drive
The Everyday Heritage initiative celebrates and preserves working class histories
Off the back of the success of the first round of Everyday Heritage Grants in 2022, Historic England is funding 56 creative projects that honour the heritage of working-class England.
Universal announces long-awaited details of its Epic Universe, set to open in 2025
Universal has revealed it will be adding new Harry Potter attractions, alongside Super Nintendo and How to Train Your Dragon worlds to its Florida resort.
Heartbreak for Swedish theme park, Liseberg, as fire breaks out
A fire has destroyed part of the new water world, Oceana, at Liseberg in Sweden, and a construction worker has been reported missing.
+ More news   
 
COMPANY PROFILES
Clip 'n Climb

Clip ‘n Climb currently offers facility owners and investors more than 40 colourful and unique Cha [more...]
DJW

David & Lynn Willrich started the Company over thirty years ago, from the Audio Visual Department [more...]
QubicaAMF UK

QubicaAMF is the largest and most innovative bowling equipment provider with 600 employees worldwi [more...]
Painting With Light

By combining lighting, video, scenic and architectural elements, sound and special effects we tell s [more...]
+ More profiles  
FEATURED SUPPLIER

Red Raion expands global presence with new Riyadh office
Red Raion, the CGI studio for media-based attractions, has announced the opening of its new office in Riyadh, Saudi Arabia. [more...]
CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

18-22 May 2024

Eco Resort Network

The Ravenala Attitude Hotel, Mauritius
23-24 May 2024

European Health Prevention Day

Large Hall of the Chamber of Commerce (Erbprinzenpalais), Wiesbaden, Germany
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2024

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
ATTRACTIONS MANAGEMENT NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS