According to financial experts, the total business in US generated out of travel and vacationing crossed a whooping $ 150 billion mark in 2011 and is expected to grow even faster in the coming years. The travel industry even bypassed the contributions of major sectors such as heavy manufacturing, computer and electronic goods and the service industry.
By 2020, the net international travel is expected to grow over by 36% from today. This, in monetary terms, is equivalent to over $ 2 trillion direct investment in the travel industry, generating and supporting about 60 million jobs in the travel and allied sectors. Expenditure on stays in hotels is also expected to rise significantly, mainly benefiting the hotels under the membership of AAHOA.
Major steps under consideration of the US government to increase travel to the country:
• Implementing JOLT (the Jobs Originated through Launching Travel) act.
• Expanding the Visa … Read More