Showing posts with label economic costs. Show all posts
Showing posts with label economic costs. Show all posts

Thursday, February 23, 2017

The Trump Effect: Significant Drop in Tourism to the United States


Among the many things that Der Trumpenführer claims he will do is bring back jobs to America. Like most of what the man says, the claim is untrue, especially in terms of coal industry jobs and manufacturing jobs.  And in one industry, the travel industry, Trump is undermining jobs and  could be the cause of job losses.  It seems that many foreign tourists have no desire to visit America given the hate, bigotry and discrimination that Der Trumpenführer have unleashed.  Frommers reports that there has been a "devastating drop" in tourism to the USA.  Indeed, the husband and I are headed to the UK in August to visit a much more LGBT welcoming country.   Here are highlights from travel experts at Frommers:
Though they may differ as to the wisdom of the move, the travel press and most travel experts are of one mind: They are currently drawing attention to an unintended consequence of the Trump-led efforts to stop many Muslims from coming to the U.S., pointing to a sharp drop in foreign tourism to our nation that imperils jobs and touristic income.  It’s known as the “Trump Slump.” And I know of no reputable travel publication to deny it. Thus, the prestigious Travel Weekly magazine (as close to an “official” travel publication as they come) has set the decline in foreign tourism at 6.8%. And the fall-off is not limited to Muslim travelers, but also extends to all incoming foreign tourists. Apparently, an attack on one group of tourists is regarded as an assault on all. As far as travel by distinct religious groups, flight passengers from the seven Muslim-majority nations named by Trump were down by 80% in the last week of January and first week of February, according to Forward Keys, a well-known firm of travel statisticians. On the web, flight searches for trips heading to the U.S. out of all international locations was recently down by 17%.  A drop of that magnitude, if continued, would reduce the value of foreign travel within the U.S. by billions of dollars. And the number of jobs supported by foreign tourists and their expenditures in the United States—and thus lost—would easily exceed hundreds of thousands of workers in hotels, restaurants, transportation, stores, tour operations, travel agencies, and the like.  
According to the Global Business Travel Association, in only a single week following announcement of the ban against certain foreign tourists, the activity of business travel declined by nearly $185 million.  Other observers, including local tourist offices, have reached similar conclusions. In referring to New York City’s $60 billion tourist industry alone, the head of the city’s tourist effort complained that his agency’s effort to portray the United States as a welcoming destination to foreign citizens “was all in jeopardy.” Several other tourist officials have made like statements. . . . .  there is plenty of evidence for a negative conclusion.  

As I have long said, hate and bigotry carry a heavy economic cost.  Given Virginia's heavy reliance on tourism, this is not welcomed news. One can only hope that Trump hotels are especially hard hit - a number of bankruptcy would be a form of divine justice.  Are you paying attention Rep. Scott Taylor?

Saturday, June 21, 2014

Anti-Gay Myths Derailed by Economist's Data Research

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Homophobia - especially state sponsored homophobia such as exits here in Virginia thanks to the efforts of Christofascists at The Family Foundation and their trained monkeys in the Virginia GOP - is bad for business and bad for Virginia's economy.  That finding has been underscored by an economist at the University of Massachusetts who has studied the economic cost of homophobia from Virginia to as far away as India.  Business Week looks at the findings that confirm that religious based bigotry needs to be eliminated from the public square and the marketplace.  Here are some highlights:
Economist Lee Badgett says equal treatment for gays and lesbians can benefit economies from Virginia to India. For the past two decades, she’s mined data in her quest to prove it. 

“My long-run goal has always been the same: It’s using research to help create a more just world,” said Badgett, 54, director of the University of Massachusetts at Amherst’s Center for Public Policy and Administration. “When policy makers can pick out their favorite myth about gay people to hang their policy on, it’s pretty hard to argue against.” 

The World Bank is collaborating with Badgett to analyze homophobia as a hurdle to development in emerging markets. She’s been called as an expert witness before Congressional subcommittees and in a court case that found California’s same-sex marriage ban unconstitutional. Colleagues credit her with publishing the first research tackling gay and lesbian issues as economic rather than sociological. 

This week, Badgett’s work for the institute was widely cited by national and international news outlets after the White House said President Barack Obama plans to issue an executive order that would bar federal contractors from discriminating against gay and transgendered employees. The change would cover 14 million more workers than state laws do, she found. 

Preliminary findings showed that discrimination related to homophobia leads to less education, lower earnings, poorer health and shorter lives. The lost workplace productivity and health problems connected with homophobia cost the country between $2 billion and $31 billion in 2012. The range is wide because data on sexual minorities is scarce, she said. 

Her work there has shown that gay couples without the option to marry miss out on tax and insurance benefits, and states that don’t allow same-sex marriages lose incremental revenue. Virginia could realize as much as $60 million in the first three years from spending on weddings and tourism, April research showed. While the impact is relatively small -- Virginia’s gross domestic product totaled $426 billion in 2013 - - it does contribute to the economy. 
The only thing that in the last analysis that supports anti-gay discrimination is religion - something that has across the centuries brought more wars, death, and destruction than almost anything else.  One need only look at the sectarian strife in Iraq or the terror attacks of religious extremists to see that the evils of religion go on unabated even today.   The civil laws need to cease empowering religious based hate and bigotry.