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US Economy Loses $12.5 Billion due to Decline in Tourism

Taarek Refaat Foreign tourist spending in the United States has declined significantly this year, amid rising negative perceptions related to trade and immigration policies, which have led to a loss of more than $12 billion this year, according to a report by Oxford Economics. The report indicated that losses could reach $8.5 billion in 2025, a decrease of an estimated 5% compared to last year. This decline is attributed to the decline in tourist traffic, with the number of international visitors expected to fall by 9%, according to Arne Ryan, director of industry studies at Tourism Economics. Regions and businesses that rely on foreign tourists face significant economic risk as a result of this decline. While some estimates suggest losses of $8.5 billion, the World Travel and Tourism Council (WTTC) predicts losses of up to $12.5 billion by 2025, describing it as a "direct blow to the U.S. economy," impacting communities, jobs, and businesses across the country. Ryan explained that "people's perceptions of the United States are important in travel decisions," adding that the Trump administration's policies, particularly those related to border security and tariffs, have created a negative climate for potential travelers. According to the data, flight bookings to the United States between May and July fell 11% compared to the same period last year, while Europe and Canada recorded declines of 10% and 33%, respectively. The U.S. Travel Association predicts that if this trend continues, it will result in losses of $21 billion in tourism revenue by 2025, confirming that every 1% decline in tourism spending costs the U.S. economy $1.8 billion annually. Experts believe the strength of the US dollar is a contributing factor, along with fears of slowing global growth and escalating trade tensions. By 2025, Oxford Economics expects international arrivals to grow by around 9% and their spending to increase by 16%. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies