Depending on what side of the political fence you lean on, you may or may not think that the current state of the United States is a dumpster fire. And it’s not just us; other countries have vastly increased their warnings about visiting the U.S.
But really, even if their citizens don’t see those warnings, all they have to do is watch TV or read the latest headlines. When people in other countries read the headlines and see our latest news about domestic terrorism, racism, gun safety, violent crimes, theft, medical costs, Black and Brown people’s interactions with the police and ICE, the militarization of American streets, how we treat people seeking asylum, etc., on top of a potential $250 visa fee, there have been plenty of travelers – some who’ve been coming to the U.S. on a regular basis for years – who say, “Y’know what? Maybe we won’t go to Florida/NYC/Vegas for a while. Let’s branch out and go somewhere that isn’t the United States.”
This has wrecked the U.S. tourist industry.
The Numbers Don’t Lie
Tourism Economics reported an 8.2% decline in international tourist arrivals to the U.S. in 2025 (in March 2025 alone, there was a 17% decline in European tourists visiting the U.S.). This compares to a projected 9% increase published in December 2024. The report noted: “Last December, the forecast projected an approximate 9 percent increase in overall international arrivals to the U.S. for 2025.” It also revised expected tourism revenue from $184 billion down to $169 billion — a 12% decrease.
But do you know which company’s profits have surged? Ryanair’s.
The Irish Times reports that, with a 3% increase in passenger traffic (up to 119 million, from 115.3 million), the airline’s profits rose 42% to €2.54 billion (US$2.94 billion) in the past six months.
Why Ryanair Is Winning
There are a few reasons for the significant increase, but one of them points to Europeans choosing not to travel to the United States right now. From Financial World:
“Europeans who decided to stay on the continent this year instead of traveling to the United States contributed significantly to the company’s unexpected profit. Michael O’Leary, Ryanair’s chief executive, said that strong demand during the summer led to a 13 percent increase in ticket prices. The company also owes part of the growth to the final takeover of the long-awaited Boeing order, while the policies of U.S. President Donald Trump have had an impact on the reduction of overseas travel.”
“The head of the low-cost carrier pointed out that overseas traffic was weak during the summer, as more passengers stayed at home and vacationed in Europe, especially in the Mediterranean.”
Ryanair CEO Michael O’Leary agrees, and further explained how the devaluation of the U.S. dollar in 2025 (“because global investors are less confident in the United States providing stable policies…” — Newsweek, July 2025) has helped Ryanair’s profits:
“We have also taken advantage of recent US$ weakness and hedged approximately 35% of our MAX 10 firm order for 150 aircraft, at an average €/$ rate of 1.24, locking in further capex savings on these low-cost aircraft.”
So there ya go. Between Europeans not visiting and taking advantage of our sinking dollar value, it looks like our loss is Ryanair’s gain.
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