Travel and Tourism Spending Decelerated in the Second Quarter of 2013

Real spending on travel and tourism decelerated in the second quarter of 2013, increasing at an annual rate of 2.5 percent after increasing 7.3 percent revised) in the first quarter of 2013.

Real Tourism Spending. Real spending on transportation goods and services decelerated, increasing 5.1 percent in the second quarter of 2013 after increasing 13.4 percent in the first quarter. Real spending on “traveler accommodations” turned down, decreasing 0.2 percent in the second quarter after increasing 4.6 percent in the first quarter. Business travelers’ spending continued to increase in the second quarter.ttsa_1

Tourism Prices. Prices for “passenger air transportation” decreased 8.4 percent in the second quarter of 2013 after decreasing 0.6 percent in the first quarter. Fuel costs decreased from their previous highs. Prices for “all other transportation-related commodities” decreased 11.1 percent in the second quarter after decreasing 3.5 percent in the first quarter. ttsa_2

Tourism Employment. Employment in the travel and tourism industries accelerated in the second quarter of 2013, increasing 3.4 percent after increasing 2.3 percent in the first quarter. The primary contributors to the acceleration in employment were “food services and drinking places” and “air transportation services.”ttsa_3

To learn more, read the full report.

 



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