BP’s agreement to create a $20 billion escrow account to handle future claims related to the Gulf oil spill was applauded by U.S. Travel Association President and CEO Roger Dow, who urged that BP fund travel marketing to accelerate recovery. The agreement was announced yesterday by the Obama Administration and BP executives.
"We applaud President Obama for his determination to ensure those harmed by the oil spill are fairly and adequately compensated in both the short- and long-term," Dow said. "We appreciate the President's leadership and stand ready to work with the Administration to ensure claims from the travel community are handled fairly and efficiently.
"It is important to remember that the road to recovery begins with the millions of annual visitors who support local restaurants, hotels, fisheries and the region's many attractions," Dow continued. "Even as efforts continue to rectify the economic damages, we can mitigate possible unwarranted future impact by continuing to remind people around the world that destinations along thousands of miles of unaffected coastline are ready to welcome visitors. We strongly believe that BP should fund continued marketing efforts that will attract visitors to the Gulf region - whether through the escrow account or by other means."