US decline in global tourism market share to linger through 2020
The United States’ share of the global tourism pie will continue to shrink at least until 2022, the U.S. Travel Association says.
The US had a 13.7% share of global tourism back in 2015, and was down to 11.7% in 2018.
Data from the USTA suggests this will continue for the next three years to less than 11% by 2022.
It calculates the continuing dip in market share through 2022 will mean the loss of 41 million visitors, $180 billion in international traveler spending and about 266,000 jobs.
"Everyone is wondering how much longer the US economic expansion can go on, and shoring up our international travel market share would be a great way to help it continue," said US Travel Association executive vice president of public affairs and policy, Tori Barnes.
Barnes is calling for the reauthorization of Brand USA to kick start a recovery.
"Passing legislation to renew Brand USA is the most immediate move to help correct this problem, and we hope this shows Congress the urgency of getting that done this year."
Other policy changes are being urged including expanding the Visa Waiver Program, expanding the Customs’ Global Entry program and streamlining visa processing wait times, especially for key markets such as China.
Falling market share is also down to a number of other factors, like a strong dollar making it increasingly expensive for travelers from some markets, such as the UK, where the British pound has sunk due to Brexit anxiety.
The US-China trade war is not helping either.
Perhaps most of all is the sheer competition for travelers’ attention.
Air travel growth and the relative affordability in Eastern Europe, Asia and beyond has diluted US market share and will likely continue to do so regardless of geopolitical issues.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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