Government Shutdown Costs U.S. Travel Economy $152 Million Per Day
October 14, 2013 7:03am
WASHINGTON (October 14, 2013) - In a letter delivered today to the President and Congress, the U.S. Travel Association released a new analysis that estimates the partial government shutdown costs the U.S. $152 million a day in economic output due to lost travel-related activity, affecting as many as 450,000 American workers directly or indirectly supported by the travel industry.
"The government shutdown is throttling America's travel sector, which, until now, has been one of the principal drivers of U.S. economic recovery," said U.S. Travel President and CEO Roger Dow. "Every day the government is shut down is another $152 million down the drain and another day of financial insecurity for as many as 450,000 U.S. workers whose livelihoods are supported by travel."
Travel is America's No.1 services export, and the travel industry has added jobs faster than the rest of the economy since the U.S. economic recovery began in 2010. U.S. Travel estimated that the direct, indirect and induced impact of lost travel-related activity due to the partial government shutdown costs the U.S. $152 million a day in economic output. The combined effects of temporary layoffs, reduced wages and fewer hours worked as a result of the shutdown affects as many as 450,000 U.S. workers who are directly or indirectly supported by America's travel economy.
"Shutting down the government is damaging, and every day the government remains closed compounds the very real consequences," said Dow. "America's travel leaders call on the President and Congress to reach an agreement to immediately reopen the government and keep it open."
Tags: government shutdown,
u.s. travel economy,
u.s. travel association
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