Travel and tourism industry leaders launch US Tourism Economy Alliance | News
More than 30 travel and tourism industry organizations from states across the country have joined together to form the US Tourism Economy Alliance, a coalition to protect the economic engine of travel and tourism.
Travel and tourism supports more than 16 million jobs nationwide and contributes greatly to the economies of destinations across the country.
For millions of families, travel rewards, points and miles from credit card programs allow them to make their travel affordable – with more than 15 million domestic air trips paid for with rewards each year. Recently, legislation was introduced in Congress known as the Durbin-Marshall Credit Card Bill (CCCA) that would impose significant new costs on credit card companies and force them to scale back or eliminate points programs.
The travel and tourism sector provides more than 16.7 million jobs nationwide. In total, nearly $44 billion in spend on travel-related businesses is generated by credit card rewards travelers – with more than 30 million households owning airline rewards credit cards and 15 million rewards flights booked annually.
The members of the US Tourism Economy Alliance know that America’s travel economy and the millions of jobs that depend on it are supported when more people have the opportunity to travel. Rewards are a big part of that, and without rewards, travelers will have fewer options due to the higher costs. Eliminating credit card reward programs will hurt the hardworking families who rely on them to travel and the millions of people who work in travel-supported jobs. It is a lose-lose for the country’s economy.
“Credit card travel rewards are how millions of Americans can travel and visit family, and they support jobs in the travel and tourism industries,” said Airlines for America (A4A). “The CCCA would increase the cost and complexity of maintaining these popular rewards programs, jeopardizing 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 these 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 supporting 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 that undermine these programs threaten economic growth, reduce consumer benefits, and endanger the very communities they serve. that depend on a strong and vibrant travel sector. Washington should focus on strengthening local economies, not stifling them with harmful mandates.”
