It was recently announced by the U.S. Travel Association that next year’s Travel and Tourism Week is scheduled to take place May 1-7, 2016. This nationwide annual salute to travel and tourism was established by a congressional resolution in 1983. The events that take place during this week serve to champion the power of the industry.
In 2014, it was reported that the industry generated total sales of $1.5 trillion. This money then supported 7.8 million U.S. jobs. The interest in how many people come to the U.S. stems from the U.S. Department of Commerce’s wish to boost U.S. business export.People come to American to explore its cities and visit the many attractions. In the process, they have a chance to see the renowned diversity of our people and geography – the great “melting pot”. When these visitors return home, the hope is that they have a passion for the USA brand and seek out American goods in their homeland; this obviously provides amazing opportunities for eager U.S. companies on the international market.
The National Travel and Tourism Week typically marks the event in several creative ways. They stage local rallies, conduct media outreach and secure proclamations and resolutions from local governments. The theme for 2015, according to the U.S. Travel Association, is to “reflect the wide-ranging and robust ways that the U.S. travel industry contributes to the fabric of America”.
While this week is a great opportunity for travel agencies, it can prove to be difficult for those wishing to start a business in this industry. Why? Travel agencies are considered to be high-risk merchants in the eyes of credit card processors. Data has shown that consumers are more likely to dispute and charge back travel agency transactions than others.
As a result, many travel agencies have turned to travel merchant accounts. These providers specialize in offering services to merchants that are otherwise considered high risk. A travel merchant account can offer a business the safe payment processing they need without the endless documentation and credit requirements. In addition, the time between application submission and receiving access is considerably faster than going with a traditional lender – in some cases, as quickly as 72 hours.