The United States may face losses amounting to billions of dollars as a result of a decline in international travelers and a boycott of American products, further exacerbating the risk of its economic recession. Goldman Sachs predicts that in the worst – case scenario, the reduction in foreign tourists and the boycott of US products could lead to a 0.3% decrease in GDP, equivalent to approximately $90 billion.
In recent years, the end of the pandemic has spurred the recovery of international tourism, and the tourism industry has become a positive factor in promoting the US economy. However, currently, many tourists are reconsidering their travel plans to the US amidst border tensions, geopolitical frictions, and heightened global economic uncertainties. Data from the US International Trade Administration (ITA) shows that the number of foreign tourists in the US in March decreased by 10% compared to last year. Last year, foreign tourists spent a record $254 billion in the US, and the ITA initially projected that the US would welcome 77 million tourists this year starting from March.
But since the release of this data, social news such as the detention of tourists from countries like France and Germany at US airports has emerged. At the same time, as Trump intensifies economic pressure on Canada, the largest source of international tourists for the US, Canadians have started to boycott travel to the US. Analysis by the Bloomberg Intelligence shows that nearly $20 billion of US tourism – related retail spending may be at risk. As the situation unfolds, the US economy, especially its tourism – dependent sectors, is expected to feel the pinch, with potential long – term consequences for its economic growth and international image.
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