Business Travel, a Driver of International Trade Hindered by Immigration Restrictions
Hillel Rapoport
Camilo Umana Dajud
Hillel Rapoport
Camilo Umana Dajud
Business travel plays a central role in the expansion of international trade. However, immigration restrictions, particularly visa policies, greatly hinder these movements, increasing costs for companies and limiting their competitiveness in foreign markets. For Schengen Area member countries, visas reduce trade by 25%, and even more for differentiated goods. In contrast, the facilitation of business visas included in free-trade agreements, even when these provisions are not subject to a dispute resolution mechanism, leads to an increase in business travel and, consequently, an average growth of 15% in bilateral trade, all without increasing permanent migration.



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