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.