Gary Anderson Blog | Tourism And The Trump Letter To Renegotiate NAFTA | Talkmarkets - Page 2
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Tourism And The Trump Letter To Renegotiate NAFTA

Date: Thursday, May 18, 2017 5:07 PM EDT

But banning laptops plays into the hands of president Trump, who would like fewer people to come to America anyway. He could expand the ban to all of Europe. Trump does not care that one of the US's major industries in the age of globalization, tourism, is potentially  bleeding billions of dollars since he became president. It is an economic truth that tourism helps offset the ravages of globalization. The richer the world becomes, the more it will spend in the United States. Donald Trump is putting that path to prosperity in jeopardy. From the site:

And the president of Dubai-based airline Emirates, Sir Tim Clark, confirmed in March that the travel ban, which sought to stop nationals from seven mainly Muslim countries from travelling to the US, immediately triggered a drop in bookings from Dubai by over a third.
All this has resulted in an estimated loss of $185 million in business travel bookings from January 28 to February 4, as calculated by the Global Business Travel Association. The drop-off in tourism is predicted to result in 4.3 million fewer visitors this year, which adds up to a staggering loss of $7.4 billion in revenue for the US.

UK passengers have begun booking elsewhere as well. This inability to attract tourists will cause economic trouble in the USA if it gains steam. From the World Bank we have a gauge of importance of tourism as a legitimate economic activity which adds to world prosperity.  

Incoming tourism is counted as an export. The importing of visitors acts like an export sold overseas: 


Tourism is officially recognized as a directly measurable activity, enabling more accurate analysis and more effective policy. Whereas previously the sector relied mostly on approximations from related areas of measurement (e.g. Balance of Payments statistics), tourism today possesses a range of instruments to track its productive activities and the activities of the consumers that drive them: visitors (both tourists and excursionists). An increasing number of countries have opened up and invested in tourism development, making tourism a key driver of socio-economic progress through export revenues, the creation of jobs and enterprises, and infrastructure development. As an internationally traded service, inbound tourism has become one of the world's major trade categories. 

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