NASDAQ Careers: Find a Job Now
Web NASDAQ.com
Search
Home > In Focus > Economy & Government News

Lawmakers eye boost for tourism industry


Lawmakers eye boost for tourism industry Some U.S. senators are looking to the tourism industry to help revive the economy.

Members of the Senate Commerce Committee recently held a hearing, led by Amy Klobuchar of Minnesota, to highlight the proposed Travel Promotion Act. The legislation would create a single nationwide campaign to attract more foreign visitors to the United States over the next five years.

"When a family decides to forgo a vacation or a business cancels a meeting, there are ripple effects across the economy," said Klobuchar in a recent statement, citing effects that range from airline tickets sold to few hotel rooms and cars rented.

People of all ages, from retirement to those in their twenties, are said to be traveling less in the current downturn.

A report by AFP notes that some 200,000 travel and tourism jobs were lost in the U.S. in 2008, while another 247,000 such jobs are expected to be lost in 2009. With that in mind, a nationwide campaign could go far towards reviving a struggling sector that is particularly linked to the rising and falling of the economy.

The number of foreign visitors has also been dropping off to the U.S. in recent years, even before the current recession.

By Steve Monfort
ADNFCR-1724-ID-19170891-ADNFCR


Today's Credit Card Rates