Attracting Foreign Tourism: A Remedy for US Economic Woes? (United States)
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Attracting Foreign Tourism: A Remedy for US Economic Woes? (United States)
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Category: North America & West Indies / Carribean islands - United States
This is a press release selected by our editorial committee and published online for free on 2008-08-12
Globalysis Ltd., a leading international boutique strategy consultancy, issued its Strategic Perspective white paper suggesting that attracting more foreign tourism could be a significant component to boosting the United States economy. The Globalysis strategy white paper states that there are significant gains to be made from increasing the role of foreign tourism in the United States economy, especially due to the weakened state of the US dollar making the United States more attractive as a destination to foreign tourists.
In particular, Globalysis suggests that the United States federal government strategically invest US$100 million in international advertising campaigns, initially focusing on 10 key international inbound markets over a 6-month period. The white paper also recommends the streamlined issuance policy of tourist visas at US embassies around the world to foreigners intending to visit the United States. The white paper further suggests that a more welcoming environment be created for international visitors at all points of entry to the country, especially at airports.
Mr. Jonathan Galaviz, a founding Partner at Globalysis Ltd., said, "While the U.S. economy continues to suffer from the housing downturn, the timing of enacting specific policies that stimulate foreign tourist visitation to hard hit cities such as Las Vegas and Miami is now ripe. The tourism sector is a very strong economic contributor to many developed economies around the world, and the U.S. should be no different. A coordinated approach between American public and private sector entities to attract significant increases in foreign visitation to the U.S. will pay valuable dividends in this difficult economic environment."
Globalysis defines the travel and leisure sector as encompassing the hotel lodging, entertainment, airline, casino gaming (where applicable), and leisure oriented real estate development. Many countries throughout the world have identified tourism sector development as a primary pillar of economic growth over the next decade, particularly nations in the greater Asian region. According to the Bureau of Economic Analysis, the tourism industry in the United States contributed a total output of US$1.32 trillion to the United States' GDP in 2007.
The Globalysis Strategic Perspective is also available for free download at the Globalysis Online Research Purchasing Facility.
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