CEO DATELINE - Report: New travel restrictions costing U.S. economy millions
CEO DATELINE - Report: New travel restrictions costing U.S. economy millions
- February 10, 2017 |
- Walt Williams
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Travel restrictions imposed on seven Muslim-majority countries by the Trump administration likely cost the business travel industry $185 million in bookings the first week after the president's order went into effect, according to Global Business Travel Association.
In a statement, GBTA Executive Director Mike McCormick noted that business travel transactions were increasing the week before President Donald Trump signed an executive order temporarily restricting travel from certain countries and suspending refugees from entering the U.S.
After the order, travel transactions dropped more than 3 percent for a loss of $185 million in bookings, he said.
"While the White House's stated goal was acting in the interest of national security, it did not give the civil servants responsible for implementing the ban any chance to do so effectively," McCormick said. "There was too much uncertainty and a lack of clarity around the executive order, leading to general confusion."
On Thursday, a federal appeals court upheld a court-ordered freeze on the restrictions until a more thorough judicial review of the order could take place. McCormick said economic damage from the order has already taken place, with a recent poll finding nearly half of European travel professionals expect their companies to reduce business travel to the U.S. during the next three months.
"We urge the Trump administration to pause this travel ban action, reassess its path forward with key stakeholders and preserve both our national security AND our economy for the future," McCormick said. http://bit.ly/2l1sU57
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