Vacation Rentals Should Go For a Larger Share of Increasing Foreign Tourist Spending
Foreign visitors spent more than ever in the USA last year despite their numbers continuing to be held down partly by the war on terror, according to an article in USATODAY
The article by Barbara De Lollis cites government figures out Wednesday that show people from other countries spent a record $104.8 billion on lodging, meals, entertainment and other travel expenses, up 12% from 2004. The number of foreign visitors — 49.4 million — was up 7% from 2004, according to the U.S. Commerce Department. However, the number of foreign visitors continues to lag behind the recent peak of 51.2 million in 2000.
The USA has been losing its share of international travelers for several years, especially after the security requirements imposed after 9/11. Therefore, the U.S. travel industry has become increasingly aggressive in pushing the government for help.
Traditionally, the vacation rental industry has not been aggressive in appealing to foreign travelers. Yet this sector of the tourism industry is too large for serious vacation rental owners to ignore. The market tourism market rebound could grow much larger in light of favorable currency-exchange rates and fast-growing international travel around the world. There are some special things that vacation property owners can do to appeal to foreign visitors. We will address these issues in the March edition of VacationRental.org’s Vacation Rentals Newsletter.
