WASHINGTON, DC – US Travel Association President and CEO Roger Dow issued the following statement on news that agreement has been reached on the 12-nation Trans-Pacific Partnership (TPP):
“All our thanks and congratulations go to this administration, and especially Commerce Secretary Penny Pritzker, for prioritizing this negotiation and doing the incredibly hard work to achieve an accord on the TPP.
“With inbound international visitation counting as the U.S.’s third-largest industry export, the travel community knows well the value of trade. The 11 other countries that will join the U.S. in the TPP sent 46.3 million visitors to the U.S. in 2014, accounting for 62 percent of all international inbound visitation that year. There is little question that the TPP, since it will result in more business being conducted between the U.S. and these partners, will cause those figures to grow considerably.
“The knock on open trade is what it does to jobs domestically, and policymakers’ concern about that is understandable. But travel supports one in nine American jobs, and inbound international travel in particular is a magical elixir for our industry’s employment numbers: a new job is created for every 34 overseas visitors that arrives here—good-paying jobs that cannot be outsourced. We hope that Congress embraces the large preponderance of data showing that trade is a major net-benefit both for the overall economy and job creation, and moves the TPP forward with all haste.”