I do some volunteer work in a non-profit that operates globally. We hold an annual team meetup in changing locations. In the past few years we did Canada and several European cities. For a while now, the plan had been to hold 2025's meetup in the US as we have several team members from there. But as it stands, we'll choose a different location because too many team members have said they're not comfortable travelling to the US under the current administration.
We're talking some 20-30 people not travelling to the US and spending money there. Obviously a small number but as you said, it adds up.
Pardon my Fr*nch