While tourism is booming across the rest of the world, the U.S. is a notable loser this year as tens of millions of international visitors are choosing to travel elsewhere—costing the economy up to $29 billion—and risking millions of jobs.

Last month, a study from the World Travel & Tourism Council (WTTC) that analyzed the economic impact of tourism in 184 countries revealed the U.S. was the only country forecast to see international visitor spending decline in 2025.

The WTTC projects the U.S. to be on track to lose $12.5 billion in international visitor spending this year compared to last year, according to the research.

It could be argued, however, that the actual losses will be significantly larger, given that Tourism Economics, a division of Oxford Economics, had originally forecasted the U.S. would see a 9% jump in international inbound travel in 2025.

“This is a wake-up call for the U.S. government,” Simpson said. “Without urgent action to restore international traveler confidence, it could take several years for the U.S. just to return to pre-pandemic levels of international visitor spend.” Yet the Trump administration and Republican party do not appear to be taking note. A Senate committee led by Senator Ted Cruz (R-Tex.) slashed the budget of Brand USA, the country’s public-private destination marketing organization, from $100 million to $20 million. The U.S. Travel Association said it is “deeply concerned,” claiming that “for every $1 spent on marketing, Brand USA adds $25 to the U.S. economy,” and warning such drastic cuts will “significantly impact every sector of our industry.” (Forbes)