Global Travel & Tourism Summit affirms the need for the U.S. to adopt a national travel and tourism policy. It included representatives from some 60 countries who participated in three days of high-level discussions about travel and tourism.



Among the participants were U.S. Secretary of State Condoleezza Rice, Secretary of Homeland Security Michael Chertoff, Secretary of Commerce Gutierrez.



The summit concluded on some key facts to consider, which needs concentration. U.S. market share of international travel is at an all-time low since 1992. U.S. market share has dropped to 35% between 1992 and 2004. It has cost the U.S. economy $286 billion in revenue. Federal, state and local government would have an extra $48 billion in tax revenue if US had maintained our market share.



Every 1% increase in international market share is equal to -

1 ) 151,000 new jobs



2 ) $12.1 billion in expenditures



3 ) $2 billion more in tax revenues



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