One reason you may see large American hospitality sector companies such as Hilton Hotels Corp. (NYSE:HLT
) and Las Vegas Sands Corp. (NYSE:LVS
) looking overseas for investment opportunities might be reflected in the latest U.S. Dept. of Commerce statistics showing a continued decline in foreign visitors to the U.S
Geoff Freeman, the head of Discover America Partnership, was quoted by the Gaming Industry News as saying the U.S. has lost almost 60 million visitors since 9/11, with a significant 17% decline in overseas visitors. Their survey concludes a negative impression of the U.S. is the primary reason for this decline in visitorship.
The top 10 countries of origin of our visitors:
- South Korea
The U.S. continues to struggle to find a balance between securing its borders and welcoming visitors (and their spending). The industry is pinning its hopes on new legislation to streamline the vetting process for foreign visitors.