Supporting National Tourism Week
Mr. Speaker, I rise in support of H. Res. 729, resolution sponsored by my friend and colleague Mark Foley, the Co- Chair of the Travel and Tourism Caucus along with members of the Caucus including myself, in support of National Tourism…
Mr. Speaker, I rise in support of H. Res. 729, resolution sponsored by my friend and colleague Mark Foley, the Co- Chair of the Travel and Tourism Caucus along with members of the Caucus including myself, in support of National Tourism Week.
It is worth repeating, Mr. Speaker, as the resolution points out, Travel and Tourism as the 3rd largest retail sales industry in the Nation, has a major impact on the economy of the United States. One out of every 7 people employed in the United States civilian labor force is directly or indirectly employed in the travel and tourism industry. International travel to the United States is the largest service export, generating a trade surplus for 16 consecutive years, increasing 144 percent between 2003 and 2004 to over $4 billion. And, in 2005 alone, travel and tourism-related expenditures reached $1 trillion, including $596 billion in direct sales and $445 billion in indirect sales, and supported 8 million jobs.
As someone who represents an area where tourism is our number one industry, I am proud to report that despite increases in the price of oil, the tourism industry in the Virgin Islands have been doing exceptionally well over the last couple of years.
According to the Virgin Islands Bureau of Economic Research, the industry was one of the strongest performers and main contributor to the economic performance during 2004 with increases in both air and cruise ship passengers. Total visitors in the Territory in fiscal year 2004 reached a record 2.6 million, up 12 percent over 2003.
The BER projects, barring any significant shocks, that visitor arrival will peak at 2.7 million by the end of fiscal year 2005 and 2.8 million in fiscal year 2006.
Mr. Speaker, the Travel and Tourism industry generates trillions of dollars in economic activity in the U.S. and as such it deserves all of our support. I urge my colleagues to support passage of H. Res. 729.