Will travel return to normal, let alone immigration to the U.S. under the EB-5 Program?
If the past is any indication, travel and immigration will spring back once things calm down. After the September 11, 2001, terrorist attacks, the travel industry took a huge hit but recovered a few years later. And after the 2008 recession, many U.S. consumers canceled planned trips, and companies tightened their travel budgets, but a few years later, consumers resumed increasing their discretionary spending, companies increased their travel expense accounts, and the industries began to recover.
While CoronaVirus will undoubtedly cause many industries, like the travel industry, to change many of its guidelines for how they operate, the world will recover. Demand for travel and immigration is still there. When the CoronaVirus shutdowns end, when people begin to feel safer, and when the industries that were hit hard due to the travel restrictions and stay-at-home orders begin to recover, travel and immigration will bounce back.
The EB-5 Program will remain a valuable immigration pathway for many foreign nationals. Foreign nationals will continue to look at the U.S. as a top destination for its educational institutions, investment opportunities, and diverse climate.
After the U.S. consulates and embassies around the world reopen and travel restrictions are lifted, many foreign nationals who had put their immigration dreams on hold may reach out to immigration attorneys and regional centers to start the EB-5 process.
- New York
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