BP Oil Spill Impact On Gulf Travel Likely To Last 3 Years And Cost $22.7 Billion
U.S. Travel Outlines ‘Roadmap to Recovery,’ Calls for $500 Million Marketing Campaign to Save Jobs
Based on a landmark analysis of 25 recent natural and manmade disasters, Oxford Economics today projected that the effects of the BP oil spill on travel to the Gulf Coast are likely to last up to three years and cost the region $22.7 billion. An aggressive and comprehensive $500 million effort to attract visitors to the Gulf Coast could reduce the total economic impact
“History and current trends indicate a potential $22.7 billion economic loss to the travel economies of the Gulf Coast states over the next three years,” said Adam Sacks, managing director of Oxford Economics USA. ”One of the most cost-effective ways to mitigate these damages is to immediately fund strategic marketing to counter misperceptions and encourage travel to the region.”
“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.”
In an effort to save the coastal region’s 400,000 travel industry jobs, the U.S. Travel Association complemented the release of the Oxford Economics study with a ” Roadmap to Recovery ,” a 10-point plan for government to help communities in crisis
Posted by Rob Mallet
on Jul 23 2010. Filed under News, Travel.
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