Tropical Storm Could Spur Massive Tourism Losses July 4th Weekend

Tourism businesses along the East Coast of the U.S. are hoping the National Weather Service has it all wrong with its forecast for the July 4th weekend.

Tropical Storm Arthur is currently hanging out off the east coat of Florida, according to the weather service's National Ocean and Atmospheric Administration, which forecasts that it will will turn north Wednesday, and gain hurricane strength by the time it approaches North Carolina's Outer Banks.

Rip currents are expected to impact a wide swath of beaches along the East Coast.

Source: NOAA

The tropical storm, which could turn into a category 1 hurricane, is expected to reach offshore New England by Friday, July 4, and could lead to hundreds of millions of dollars in losses by commercial interests, including tourism, although the storm is not expected to lead to losses on par with Hurricane Irene or superstorm Sandy.