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+--- Thread: Impact of geopolitical uncertainty US$13.b in 2017: GBTA (/thread-2674.html)
Impact of geopolitical uncertainty US$13.b in 2017: GBTA - TEAM HARLFORUM - 05-20-2017
The Global Business Travel Association (GBTA) on Friday released a forecast looking at the cumulative economic impact of global uncertainty and anti-travel policies, projecting a loss of over US$1.3 billion in overall travel-related expenditures in the United States in 2017, including hotels, food, rental cars and shopping expenses that inbound travelers would have spent.
A few highlights from the forecast that used first quarter ticketing data from the Airlines Reporting Corp.:
- That US$1.3 billion includes US$250 million lost in spending from inbound business travelers from Europe and the Middle East.
- U.S. GDP will take a nearly US$300 million hit. More than 4,200 jobs could be lost along with US$175 million in wages and US$70 million in tax collections.
- Europe is forecast to lose over US$250 million in airfare spending and the Middle East will lose over US$80 million in airfare.