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Goldman Sachs (NYSE:GS) is sounding the alarm on an overlooked but mounting economic threat: the collapse of inbound foreign tourism. According to the latest data, international arrivals by air fell nearly 10% in March versus last year. Behind the drop? A cocktail of aggressive US tariffs, rising geopolitical tensions, and an increasingly hostile border experience. Goldman estimates the pullback in travel and foreign consumer boycotts could carve out as much as $90 billionaround 0.3% of US GDPin 2025. That would mark one of the steepest hits from travel sentiment since the pandemic rebound.