July 27, 2010
The effects of the BP oil spill on travel to the Gulf Coast will likely last up to three years and cost the region $22.7 billion, according to a new report.
The U.S. Travel Association and Oxford Economics projected the figures based on an analysis of 25 recent natural and man-made disasters.
The findings have prompted the U.S. Travel Association to propose a $500 million effort to attract visitors to the region, in an attempt to reduce the economic impact by nearly $7.5 billion.
“Travel is a perception business, and the impact of disasters like the BP oil spill on the industry is actually predictable,” said Roger Dow, president and CEO of the U.S. Travel Association. “We know from this research that the oil spill will have long-term effects on businesses and jobs in the Gulf Coast region unless we counteract the usual course of events with an unprecedented response.”
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