Hundreds of millions of dollars were lost in travel bookings after a week US President Donald Trump signed and introduced the travel ban to seven Muslim-majority countries from the Middle East. The travel ban -- while still on hold -- will hold refugees and even Green Card holders from the countries up to 90 days outside the United States.
According to IOL South Africa -- citing GBTA Executive Director Mike McCormick -- Trump's travel ban "would clearly cause a 'rippling effect' throughout the US travel economy, the latter which the ban would ultimately damage. According to GBTA's data, business travel from the seven countries could see a reduction in the next three months. McCormick continued that the uncertainty introduced by the travel ban debate would make small to multinational American companies suffer.
US President Donald Trump's travel ban would ban travel from Muslim-dominated countries to achieve the President's objective of "removing the risks of terrorists slipping into America as refugees." Three US Judges had vetoed the executive order stating the lack of evidence to the Trump Administration's claim that these countries breed terrorists.
Investors from all over the world have had mixed responses regarding Trump's travel ban. Forbes reports that during the first Monday after the signing of the executive order, financial markets were down and the dollar's strength had declined effectively. Forbes contributor John Wasik said the US is cutting itself off "the flow of intellectual capital," the latter being another "trade war."
Wasik added that intellectual professionals including "promising researchers, engineers and academics" would choose to stay away from the United States if "they know they are not welcome or be subjected to routine interrogation." Wasik said restricting the flow of intellectual capital would follow "a slippery slope into other areas."
Wasik said that Trump's other anti-foreign sentiment campaigns such as cutting support on Obama's Trans-Pacific Partnership -- which intends to enrich US business ties with Asia Pacific -- and Trump's Mexican Tariff plans could further hurt US businesses. Wasik warns that Trump's promise of lower tax rates is simply not enough to sustain his post-itinerary future in mind.
This article is copyrighted by Travelers Today, the travel news leader