In Brief: To safeguard the U.S. travel sector from ongoing global disruptions, prominent figures in the travel and tourism industry have launched the U.S. Tourism Economy Alliance.
More than 30 organizations in the travel and tourism industry from states across the nation have joined together to launch the U.S. Tourism Economy Alliance, a coalition to protect the economic engine of travel and tourism.
Travel and tourism support more than 16 million jobs across the country and contribute enormously to the economies of destinations nationwide.
For millions of families, travel rewards, points, and miles from credit card programs enable them to make their trips affordable – with more than 15 million domestic airline trips paid for with rewards annually. Recently, legislation in Congress known as the Durbin-Marshall credit card bill, or CCCA, was introduced, which would create significant new costs for credit card companies and force them to scale back or eliminate points programs as a result.
The travel and tourism industry includes more than 16.7 million jobs nationwide. Nearly $44 billion in total spending is generated for travel-related businesses by credit card rewards travelers – with more than 30 million households holding airline rewards credit cards and 15 million flights booked annually with rewards.
The U.S. Tourism Economy Alliance’s members know that America’s travel economy and the millions of jobs that rely on it are supported when more people have the ability to travel. Rewards are a huge part of that, and without them, travelers will be left with fewer opportunities due to higher costs. Taking away credit card rewards programs will hurt the hardworking families who rely on them to travel, and the millions of people who work in travel-supported jobs. It’s a lose-lose for the nation’s economy.
“Credit card travel rewards are how millions of Americans are able to take trips and visit family, and they support jobs across the travel and tourism sector,” said Airlines for America (A4A). “The CCCA would increase the cost and complexity of maintaining these popular reward programs, putting at risk the benefits travelers have earned and rely on. Consumers value the competition and choice that exists today, and policies that disrupt the marketplace could take away those rewards.”
“Countless local communities are built on travel and tourism,” said Richard Hunt, Executive Chairman of the Electronic Payments Coalition. “From family-owned businesses on Main Street to our national economy, credit card rewards programs play a critical role in helping Americans travel and support jobs in communities across the country. Oxford Economics has estimated that eliminating these rewards would deliver a nearly quarter-trillion-dollar hit to the economy and put approximately 160,000 jobs at risk. Simply put, policies undermining these programs threaten economic growth, reduce consumer benefits, and jeopardize the very communities dependent on a strong and vibrant travel sector. Washington should be focused on strengthening local economies, not stifling them with harmful mandates.”
About the U.S. Tourism Economy Alliance
The U.S. Tourism Economy Alliance (USTEA) connects policymakers with the people, places, and businesses that power America’s travel and tourism economy.
Our mission is to protect one of America’s most powerful economic engines: travel and tourism. We bring together voices from across the industry to ensure lawmakers understand its vital role and how unintended policy consequences can harm the communities, businesses, and jobs that depend on it.
To learn more, visit www.protectusatourism.com.
