Economic Growth – Travel & Tourism – The Real Estate Roundtable

Biden Administration to Ease Pandemic Travel Restrictions; Senate Hearing Considers Legislation to Support Travel and Tourism Economy

Posted on October 15, 2021October 27, 2023 by Trey Jackson

The Biden administration today announced that fully vaccinated travelers from Mexico and Canada will be allowed to enter the United States starting Nov. 8 for “non-essential purposes, including to visit friends and family or for tourism.” The easing of travel restrictions provides a renewed opportunity for international travel to boost domestic economic growth. Additionally, next month will see the end of a pandemic-driven, 18-month ban on travel from 33 countries, including members of the European Union. (Reuters, Oct. 15 and New York Times, Oct. 12 | Oct. 8)

Why It Matters

The easing of travel restrictions could help rejuvenate the U.S. tourism industry and commercial real estate’s hospitality and retail sectors, which have been hit hard by the pandemic. Inbound international travel may help CRE through increased spending at hospitality, retail, attractions, health, and investment properties, generating revenues and creating American jobs. According to Marketwatch, relaxed travel restrictions may also
lead to an increase in foreign investment in U.S. real estate.
Secretary of Homeland Security Alejandro Mayorkas stated, “Cross-border travel creates significant economic activity in our border communities and benefits our broader economy.” He added, “This new travel system will create consistent, stringent protocols for all foreign nationals traveling to the United States – whether by air, land, or ferry – and accounts for the wide availability of COVID-19 vaccinations.” (DHS news release, Oct. 12)
Senate Majority Leader Chuck Schumer (D-NY) this week commented, “Since the beginning of the pandemic, members of our shared cross-border community have felt the pain and economic hardship of the land border closures. That pain is about to end.” (Schumer news release, Oct 12)
The American Hotel & Lodging Association (AH&LA) also issued a Sept. 15 report on how hotels are projected to end 2021 with a loss of 500,000 jobs and more than $59 billion in business travel revenue compared to 2019. (AH&LA news release | state-by-state breakdown | market-by-market breakdown)

Bipartisan Senate Efforts

The Senate is preparing legislation to boost inbound travel and tourism to the United States, according to a Sept. 21 Senate Commerce subcommittee hearing chaired by Sen. Jacky Rosen (D-NV), above.
Executives from AH&LA and the U.S Travel Association testified at the hearing, entitled Legislative Solutions to Revive Travel and Tourism and Create Jobs.
Rosen, who leads the Subcommittee on Tourism, Trade, and Export Promotion, announced that bipartisan legislation is in the works to “support the recovery of the travel and tourism economy in the wake of the COVID-19 pandemic and help us build a brighter future for businesses and workers in this key sector for every state in our nation.” (Rosen news release, Sept. 22)
The imminent Omnibus Travel and Tourism Act would establish permanent federal leadership on travel policies, invest in public-private partnerships to increase visits to the U.S., and create a task force to address the pandemic’s impact on air travel. (BGov, Sept. 21)

Full committee ranking member Roger Wicker (R-MS) added his support for the emerging bill, saying that the nation’s travel and tourism challenges are a “bipartisan issue.”

# # #

Brand USA Reauthorization Bill Advanced by House Subcommittee

Posted on November 16, 2019October 27, 2023 by Trey Jackson

Legislation to reauthorize Brand USA – the organization that promotes the U.S. globally as a travel destination – easily cleared a markup by the House Energy and Commerce Subcommittee on Consumer Protection and Commerce on Nov. 14.

Brand USA is a public-private partnership that attracts international travelers to the U.S. to encourage tourism spending at America’s hospitality, retail, attraction and other properties. The marketing organization operates at no expense to taxpayers – private sector contributions fund the program, matched by U.S. government fees collected from foreign visitors who enjoy visa-free entry to the U.S. The federal portion of Brand USA funding is scheduled to expire in September 2020.
Subcommittee Chairman Frank Pallone (D-NJ) during the House markup of The Travel Promotion, Enhancement, and Modernization Act (H.R. 3851) stated, “Tourism is critical to our economy and every one our communities. Overseas travelers spend more than their domestic counterparts—an average of $4,200 per trip. It is critical that we renew Brand USA as soon as possible.” (Rep. Pallone remarks, Nov.14)
In the Senate, the Committee on Commerce, Science and Transportation passed the “Brand USA Extension Act” on July 24. S. 2203 would extend the federal cost-share until 2027, and increase the foreign traveler fees that pay for the federal portion. (Roundtable Weekly, August 9)
The Real Estate Roundtable is part of the Visit U.S. Coalition which advocates for Brand USA reauthorization. The coalition, led by the U.S. Travel Association (USTA) and the American Hotel and Lodging Association, also includes the American Resort Development Association and the U.S. Chamber of Commerce.
U.S. Travel Association Executive Vice President of Public Affairs and Policy Tori Barnes noted, “International visitation to the U.S. is flat at a time when global travel is booming, which means that we are leaving a huge opportunity for economic growth on the table. The situation would be far worse without Brand USA’s demonstrated effectiveness at bringing lucrative international visitor dollars to our shores, and House and committee leaders are to be commended for recognizing the urgency to renew Brand USA this year.” (USTA press release, Nov. 14)
The importance of international travel to the domestic economy, job growth, and CRE was the focus of a panel discussion during The Roundtable’s 2018 Annual Meeting. (Roundtable Weekly, June 15, 2018).

The Visit U.S. Coalition is urging inclusion of a bipartisan Brand USA reauthorization bill in must-pass legislation before the end of the year.

# # #

“VisitU.S.” Coalition, Roundtable Advance Policy Recommendations to Boost Economic Growth

Posted on May 13, 2019October 27, 2023 by Trey Jackson

Robust international travel helps power economic growth and commercial real estate through tourism dollars directly spent at U.S. hotels, resorts, stores, home purchases, attraction, and investment properties. That is the message to policymakers from the multi-industry VisitU.S. Coalition, which aims to safely and securely welcome more overseas travelers to the U.S. – who stay an average of 18 nights and spend approximately $4,360 at hotels, stores, restaurants and attraction properties on business and leisure trips. (VisitU.S. Policy Agenda)

The multi-industry VisitU.S. Coalition aims to safely and securely welcome more overseas travelers to the U.S. – who stay an average of 18 nights and spend approximately $4,360 at hotels, stores, restaurants and attraction properties on business and leisure trips. ( VisitU.S.Policy Agenda )

The coalition advocates for policies from the Trump Administration and Congress to regain the nation’s lost share of the global travel market by 2020, which will result in 88 million international visitors who directly support 1.3 million U.S. jobs and $294 billion in travel exports – crucial to achieving the Administration’s economic goals. (Roundtable Weekly Jan. 19 Feb. 9)
To address policies that may encourage or discourage in-bound travel – as well as the impact of the travel and tourism market on CRE – The Roundtable will host a panel discussion during its June 14 Annual Meeting entitled “ Enhancing International Travel and Tourism.
“We should be encouraging international tourism and promoting policies that not only make the visa system more secure and accessible, but also streamline the process,” said Jeffrey D. DeBoer, President and CEO of The Real Estate Roundtable. “Increasing inbound international travel to the U.S. helps power the commercial real estate industry here at home through spending at hospitality, retail, attraction, health, and investment properties – all of which generate revenues to boost overall economic growth and create American jobs,” DeBoer added.
Jonathan Tisch, chairman and CEO of Loews Hotels & Co. spoke about the coalition’s concerns and goals during a Monday interview with CNBC’s “Squawkbox” and at an international hospitality industry investment conference. ( Squawkbox Interview, June 4 and GlobeSt, June 6)
In a June 4 Travel Weekly editorial, Tisch also addressed the Trump Administration’s proposal to eliminate Brand USA, a public-private partnership created by Congress to promote America as the best destination for international visitors. Tisch writes, “The program returns an estimated $28 in visitor spending for every $1 invested – without a single dollar from U.S. taxpayers. Although the fees that fund it were extended, after 2020, those monies will be diverted to the U.S. Treasury instead of Brand USA. Unless this is fixed, the program will be in limbo.”

Led by the U.S. Travel Association and the American Hotel and Lodging Association, the VisitU.S. coalition also includes The Real Estate Roundtable, U.S. Chamber of Commerce and the American Resort Development Association.

Roundtable, Industry Coalition Voice Concerns That “Enhanced Vetting” Proposal Could Dampen Economy by Deterring International Visitors to U.S.

Posted on May 13, 2019October 27, 2023 by Trey Jackson

A multi-industry travel and tourism coalition that includes The Real Estate Roundtable submitted formal comments on May 29 urging the State Department to withdraw an “enhanced vetting” proposal for visitors traveling to the U.S. – a dramatic expansion of information collection that could further reduce the downward trend of in-bound tourism and its significant economic benefits. The Roundtable is also part of the VisitUS Coalition , which expressed concerns about the proposal in April. [Roundtable Weekly, April 13, 2018.]

The business coalition concerns submitted this week addressed:

The “highly competitive” global market to capture foreign travelers “is sensitive to new and evolving security protocols.” The comments also address the department’s proposal to require all visitors seeking a U.S. visa – about 15 million applicants each year – to provide extensive information on social media use, history of international travel, and other matters. Currently, only a much smaller subset of visa applicants identified as presenting a “threat profile” to national security must answer these questions.

“New requirements that make it more challenging to obtain U.S. visas can affect the willingness and interest of international travelers to visit the United States rather than other countries,” the coalition wrote. “Safeguarding national security and growing the U.S. economy by encouraging international visitors are compatible, significant objectives. America can be both the most secure and the most visited country in the world.”

Noting that the U.S. has attracted 7.4 million fewer overseas travelers in 2016-2017 – with corollary declines in visitor spending at American hotels, resorts, stores and attraction properties – the coalition urged the State Department to re-think its “enhanced vetting” proposal.

The comments also explained that the dip in the U.S. share of the global travel market hinders the Trump Administration’s foreign trade goals. “Money spent here by foreign travelers counts as an export for the United States; indeed, international travel is our country’s largest export of services accounting for $245 billion in total travel exports, and the second largest of any economic sector,” the coalition wrote.

Roundtable Panel on Enhancing International Travel and Tourism

The Trump Administration also announced this week that it will begin limiting the length of validity for some visas issued to Chinese citizens, starting June 11. (Bloomberg, May 29)

To address policies that may encourage or discourage in-bound travel to the U.S.– as well as the impact of the travel and tourism market on CRE – The Roundtable will host a panel discussion during its June 14 Annual Meeting.

The American Hotel & Lodging Association and the U.S. Travel Association lead the multi-industry VisitUS coalition, which also includes the U.S. Chamber of Commerce and the American Resort Development Association. (VisitU.S. Policy Agenda, Roundtable Weekly, March 2)

Hospitality CEOs Meet With President Trump to Advocate Reauthorization of Brand USA Program; Visa Application Process Improvements

Posted on May 13, 2019October 27, 2023 by Trey Jackson

The vital contributions to the U.S. economy and job creation by the travel and tourism industry were the focus of a meeting Tuesday between President Trump and CEOs of 13 hospitality companies, including four members of The Real Estate Roundtable.

Among the hotel CEOs participating in the White House meeting on travel and tourism this week were former Real Estate Roundtable Chairman Chris Nassetta of Hilton, along with Roundtable members Elie Maalouf of InterContinental Hotels Group; Patrick Pacious of Choice Hotels International; and James Risoleo of Host Hotels & Resorts, Inc.

– enlarge photo –

The White House meeting focused on ways the Trump Administration and private industry can work together to achieve travel-related economic growth. Among the policies discussed to help improve inbound travel: expanding and enhancing secure visa policies; supporting the Brand USA destination marketing agency; the importance of international inbound travel to reduce the growing trade deficit; and transportation infrastructure — all critical to increasing both international and domestic travel.
Among the hotel CEOs participating in the meeting were former Real Estate Roundtable Chairman Chris Nassetta of Hilton, along with Roundtable members Elie Maalouf of InterContinental Hotels Group; Patrick Pacious of Choice Hotels International; and James Risoleo of Host Hotels & Resorts, Inc.
The Visit U.S. coalition, which includes The Roundtable, is urging Congress to reauthorize Brand USA — the nation’s tourism marketing program, which is not supported by taxpayer dollars, but through fees on foreign visitors who do not require a visa when entering the U.S. Legislation is needed to authorize the program beyond 2020 and ensure that visitor fees authorized for collection from 2021 to 2027 will not be diverted to the Treasury Department, as currently scheduled.
An FY2017 return on investment analysis showed each dollar of Brand USA marketing generated almost 28 dollars in visitor spending. Moreover, Brand USA-generated international visitor spending is estimated to have produced 486 million dollars in federal tax revenue, and another 526 million dollars in state and local tax revenue.
Roger Dow, president and CEO of the U.S. Travel Association, said, “The president is a keen listener whenever you’re talking about growing the economy, and he was receptive to the idea that travel growth can be achieved without compromising security.”

A panel discussion at The Roundtable’s June 14 Annual Meeting focused on the travel and tourism issue. Participants included Senator Amy Klobuchar (D-MN); Roundtable Board Member Anthony E. Malkin, Chairman and CEO, Empire State Realty Trust; USTA’s Roger Dow; and American Hotel & Lodging Association’s President and CEO Katherine Lugar. (Roundtable Weekly, June 15, 2018.)

Trump 2016 Campaign Advisor: Foreign Tourism Supports U.S. Economic Growth, Job Creation and Reduces Trade Deficit

Posted on May 13, 2019October 27, 2023 by Trey Jackson

A Dec. 4 report by Heritage Foundation Economist Stephen Moore finds that “promoting and facilitating foreign tourism to the United States can be an effective way to increase American jobs and national output while reducing the nation’s trade deficit.”

According to Tourism to the U.S. Means More Growth, More Jobs, Lower Trade Deficit by Stephen Moore, when international travelers visit the United States, their spending at hotels, retail stores, attraction properties and restaurants totals nearly $250 billion per year. This economic activity supports approximately 1.2 million U.S. jobs and at least $30 billion in worker pay and benefits.

Moore advised President Trump during the 2016 campaign and worked closely with Larry Kudlow, now the chief White House economic adviser. (Washington Examiner, Dec. 4)
Moore’s analysis shows the impact of foreign travel on the U.S. economy and how the growth rate of visitor spending in the U.S. has fallen in comparison to other nations in recent years.
According to the report, when international travelers visit the United States, their spending at hotels, retail stores, attraction properties and restaurants totals nearly $250 billion per year. This economic activity supports approximately 1.2 million U.S. jobs and at least $30 billion in worker pay and benefits.
The report also shows that tourism from abroad lowers the trade deficit. In 2017, international tourism generated a $77 billion trade surplus — more than any other industry except for ﬁnancial services — which reduces the U.S. overall trade deﬁcit by an equivalent amount. (Tourism to the U.S. Means More Growth, More Jobs, Lower Trade Deficit by Stephen Moore)
The Roundtable is part of the Visit U.S. coalition, which advocates for reauthorization of the Brand USA program — a public-private partnership that markets the United States as a travel destination to international travelers. The Roundtable joined a coalition of nearly 600 organizations last week in a letter urging Congress to pass legislation that puts Brand USA funding at risk. (Roundtable Weekly, Nov. 30)
Today, Brand USA operates at a 29:1 return on investment-a program with undeniable economic benefits at no cost to the taxpayer. If Congress does not renew Brand USA this year, $17.7 billion in visitor spending, $5 billion in tax revenue, and 51,000 American jobs generated are at risk. (Return On Investment Analysis, Oxford Economics and Visit U.S. Letter to Congressional Leadership, Nov. 30)

The economic importance of foreign travel and tourism to the United States’ economy and commercial real estate industry was the focus of a panel discussion during The Roundtable’s 2018 Annual Meeting. (Roundtable Weekly, June 15, 2018).

Jobs Originating through Launching Travel (JOLT) Act Aims to Encourage Tourism to the U.S. and Bolster Job Creation

Posted on April 26, 2019October 27, 2023 by Trey Jackson

Reps. Mike Quigley (D-IL) and Tom Rice (R-SC) reintroduced the bipartisan Jobs Originating through Launching Travel (JOLT) Act of 2019 (H.R. 2187) on April 9 to improve national security, increase international tourism, create jobs and reform visa laws.

The Visit U.S. Coalition endorsed the introduction of the JOLT Act last year and again this month on its reintroduction. (Roundtable Weekly, July 27, 2018 and Visit U.S., April 9) The coalition, led by the U.S. Travel Association and the American Hotel and Lodging Association, includes The Real Estate Roundtable, U.S. Chamber of Commerce and the American Resort Development Association.

The JOLT Act proposes to:

Strengthen visa processing by setting timely goals for applicants;
Create a pilot program at the State Department to utilize videoconferencing technology for applicants who lack easy access to U.S. embassies;
Rename the Visa Waiver Program (VWP) the Secure Travel Partnership to more accurately reflect the realities of security and travel facilitation within the program;””
Modify the VWP to prevent overstays, and increase the ability of secure countries to participate;
Increase the ability of Canadians to stay up to 240 days per year;
Improve coordination between the Department of Homeland Security and the State Department.

“Welcoming international travelers to American shores has undeniable benefits – from boosting the economy with spending at hotels, restaurants, and retail stores, to showing the world what makes America great,” said Visit U.S. Coalition spokesperson Andrea Riccio. According to the coalition, each overseas traveler spends approximately $4,200 when they visit the U.S., directly supporting 1.2 million jobs and $33.7 billion in wages. (Visit U.S. news release, April 9)

A panel discussion at last year’s Annual Roundtable Meeting focused on travel and tourism, economic growth and commercial real estate. Participants included Roger Dow, President and CEO, U.S. Travel Association; Katherine Lugar, (former) President and CEO, American Hotel & Lodging Association; Senator Amy Klobuchar (D-MN) and Anthony E. Malkin (Chairman and CEO, Empire State Realty Trust). (Roundtable Weekly, June 15, 2018)

Trump 2016 Campaign Advisor: Boost Foreign Tourism to Lower the Trade Deficit

Posted on August 17, 2018October 27, 2023 by Trey Jackson

Club for Growth founder and economic advisor to the Trump 2016 campaign, Stephen Moore, writes in an August 15 op-ed that boosting foreign tourism to the United States will increase economic growth and lower the trade deficit — a view shared by the VisitU.S. Coalition. (Boston Herald, Aug. 15)

Moore notes in his commentary, “Washington is ignoring one easy way to trim the trade deficit without new tariff threats or complicated trade deals that could take years to consummate. Get more foreigners to travel to the United States and buy things here. Recently, I met with officials from the Visit U.S. Coalition – which is made up of owners of businesses such as hotels, restaurants, airlines, amusement parks and shopping centers – and they alerted me to this lost opportunity.”
Led by the U.S. Travel Association (USTA) and the American Hotel and Lodging Association (AH&LA), the VisitU.S. Coalition includes The Real Estate Roundtable, U.S. Chamber of Commerce and the American Resort Development Association. The multi-industry coalition aims to safely and securely welcome more overseas visitors, who stay an average of 18 nights and spend an estimated $4,360 at U.S. hotels, stores, restaurants and attraction properties.
Moore also comments in his op-ed: “Prior to 9/11, the U.S. was the destination for about 1 in 6 international trips, but now we are the destination for about 1 in 8. The travel industry economists calculate that this decline has reduced foreign purchases of American goods and services by some $32 billion. They estimate about 100,000 fewer jobs have been created as a result of fewer tourists arriving from abroad.”
To address the drop of 7.4 million international visitors to America from 2015-2017, the VisitU.S. coalition encourages policies to help the nation regain its lost share of the global travel market by 2020 and help achieve the Administration’s economic goals. (Roundtable Weekly, Jan. 19 and Feb. 9)

VisitU.S. Coalition video on the State of International Travel.
Specifically, the coalition is urging Congress to reauthorize the Brand USA program — the nation’s first public-private partnership that markets the U.S. as a premier travel destination and communicates U.S. visa and entry policies. “The travel industry itself needs to do a better and more comprehensive job marketing America and our natural and man-made wonders,” Moore noted in his editorial.
Entry fees on foreign visitors – not federal taxpayer dollars – support Brand USA. An FY2017 return on investment analysis showed each dollar of Brand USA marketing generated almost 28 dollars in visitor spending. Brand USA is also estimated to have produced 486 million dollars in federal tax revenue, and another $526 million in state and local tax revenue.

Travel and tourism policies to boost economic growth were addressed in a panel discussion during The Real Estate Roundtable’s June 14 Annual Meeting. Participants included USTA’s Roger Dow, AH&LA’s Katherine Lugar, Senator Amy Klobuchar (D-MN) and Anthony E. Malkin (Chairman and CEO, Empire State Realty Trust). (Roundtable Weekly, June 15, 2018.)

Jobs Originating through Launching Travel (JOLT) Act Introduced to Spur International Tourism and Job Creation Issues

Posted on July 27, 2018October 27, 2023 by Trey Jackson

In a bipartisan effort to spur tourism to the U.S., create jobs, reform outdated visa laws and increase national security, Reps. Mike Quigley (D-IL) and Tom Rice (R-SC) yesterday introduced the Jobs Originating through Launching Travel (JOLT) Act of 2018.

“By improving the visa process, strengthening national security, and welcoming vetted travelers, the U.S. will be able to realize economic benefits at hotels, restaurants, retail store, and attractions around the country,” said VisitU.S. Coalition spokesman Amos Snead. (VisitU.S. News Release, July 26)

Rep. Quigley said, “By updating outdated visa laws, we can drive tourism and job growth in our cities and assist the U.S. intelligence community with their mission to spot and stop terrorist threats. The JOLT Act accomplishes both of those objectives by stimulating economic activity and improving national security.”
Rep. Rice added, “The JOLT Act will enhance our economic competitiveness and strengthen national security by modernizing the Visa Waiver Program (VWP), which facilitates streamlined travel into the United States for pre-approved travelers from member countries.”
In 2016, 22 million people traveled to the U.S. from VWP countries, accounting for 59% of overseas arrivals to the U.S. Travelers from these countries generated more than $90 billion for the U.S. economy. (Rep. Quigley News Release, July 26)
The VisitU.S. Coalition applauded introduction of the Act. Coalition spokesman Amos Snead commented, “By improving the visa process, strengthening national security, and welcoming vetted travelers, the U.S. will be able to realize economic benefits at hotels, restaurants, retail store, and attractions around the country,” said VisitU.S. Coalition spokesman Amos Snead. (VisitU.S. News Release, July 26)
Led by the U.S. Travel Association and the American Hotel and Lodging Association, the VisitU.S. coalition also includes The Real Estate Roundtable, U.S. Chamber of Commerce and the American Resort Development Association.
The coalition is also urging Congress to reauthorize the Brand USA program, which is funded through fees on foreign visitors who do not require a visa when entering the U.S. Legislation is needed to authorize the program beyond 2020 – and ensure that visitor fees authorized for collection from 2021 to 2027 will not be diverted to the Treasury Department, as currently scheduled. (Roundtable Weekly, June 29)

A panel discussion at The Roundtable’s June 14 Annual Meeting focused on travel and tourism, economic growth and CRE. Participants included Roger Dow, President and CEO, U.S. Travel Association; Katherine Lugar, President and CEO, American Hotel & Lodging Association; Senator Amy Klobuchar (D-MN) and Anthony E. Malkin (Chairman and CEO, Empire State Realty Trust). (Roundtable Weekly, June 15, 2018.)

“VisitU.S.” Advocates Reauthorization of Brand USA Travel and Tourism Program; Improving Efficiency of Visa Application Process

Posted on June 29, 2018October 27, 2023 by Trey Jackson

The significant, positive role of international travel and tourism in boosting the U.S. economy, creating American jobs and helping the foreign trade imbalance was the focus of efforts by the VisitU.S. Coalition this week on Capitol Hill.

A VisitU.S. coalition video with CEO testimonials was released to address the drop of 7.4 million international visitors to America from 2015-2017. Roger Dow, President and CEO of the U.S. Travel Association, above.

Roundtable President and CEO Jeffrey D. DeBoer joined coalition CEOs on Wednesday in Congressional meetings. The following day, a coalition video with CEO testimonials was released to address the drop of 7.4 million international visitors to America from 2015-2017. While foreign travel has increased globally, the U.S.’s reduced market share translates to 32 billion dollars in lost spending and 100,000 fewer jobs in this country. The drop in foreign visitation also widens the foreign trade imbalance, as spending by international visitors is the U.S.’s top service export accounting for 245 billion dollars in total travel exports in 2017. (Roundtable Weekly, June 8, 2018.)
Wyndham Hotel Group President and CEO Geoff Ballotti said, “We have had five or six great years of record growth in terms of international inbounds but the share that we are capturing is continuing to slip and that’s what we are all very focused on – maintaining that great market share.” (VisitU.S. video, June 28)
The coalition is urging Congress to reauthorize the Brand USAprogram, which is not supported by taxpayer dollars, but through fees on foreign visitors who do not require a visa when entering the U.S. Legislation is needed to authorize the program beyond 2020 — and ensure that visitor fees authorized for collection from 2021 to 2027 will not be diverted to the Treasury Department, as currently scheduled.

An FY2017 return on investment analysis showed each dollar of Brand USA marketing generated almost 28 dollars in visitor spending. Moreover, Brand USA-generated international visitor spending is estimated to have produced 486 million dollars in federal tax revenue, and another 526 million dollars in state and local tax revenue.

“Robust international travel helps to power the U.S. commercial real estate markets, not only hospitality properties but retail, attraction, health and investment properties as well,” said DeBoer. “National tourism policies that boost overall economic growth, support and create jobs, and generate revenues help modernize our infrastructure, and generally improve the quality of life in our communities. The Real Estate Roundtable will continue our work with the VisitU.S. Coalition to emphasize that America is a uniquely welcoming, interesting and safe travel destination for international visitors,” DeBoer added.
The meetings on Capitol Hill also focused on the need to improve the visa application process for foreign visitors. Other CEOs joining DeBoer in Wednesday’s congressional visits were Roger Dow with the U.S. Travel Association; Katherine Lugar with the American Hotel & Lodging Association; Robert Cresanti with the International Franchise Association; Chip Rogers with the Asian American Hotel Owners Association; and Steve Shur with Travel Tech.

A panel discussion at The Roundtable’s June 14 Annual Meeting focused on the travel and tourism issue. Participants included USTA’s Roger Dow, AH&LA’s Katherine Lugar, Senator Amy Klobuchar (D-MN) and Anthony E. Malkin (Chairman and CEO, Empire State Realty Trust). (Roundtable Weekly, June 15, 2018.)