Posts Tagged 'travel and tourism'

Travel and Tourism Spending Accelerated in the Fourth Quarter of 2014

Real spending on travel and tourism accelerated in the fourth quarter of 2014, increasing at an annual rate of 4.5 percent after increasing 3.4 percent (revised) in the third quarter.  By comparison, real gross domestic product (GDP) decelerated, increasing 2.2 percent (second estimate) in the fourth quarter after increasing 5.0 percent. For the year, real spending on travel and tourism increased 2.5 percent in 2014 after increasing 3.6 percent in 2013. By comparison, real GDP increased 2.4 percent in 2014 after increasing 2.2 percent in 2013.

The leading contributors to the acceleration in the fourth quarter were “passenger air transportation” and “recreation and entertainment.” “Passenger air transportation” turned up, increasing 1.7 percent in the fourth quarter after decreasing 4.5 percent in the third quarter. “Recreation and entertainment” also turned up, increasing 6.2 percent after decreasing 0.9 percent. Partially offsetting these upturns, “traveler accommodations” turned down, decreasing 1.5 percent in the fourth quarter after increasing 8.3 percent.

Real Tourism Spending March 18

Travel and Tourism Spending Decelerated in the Third Quarter of 2014

Real spending on travel and tourism decelerated in the third quarter of 2014, increasing at an annual rate of 1.3 percent after increasing 3.3 percent (revised) in the second quarter. Real gross domestic product (GDP) also decelerated, increasing 3.9 percent (second estimate) in the third quarter after increasing 4.6 percent.

The leading contributors to the deceleration in the third quarter were “passenger air transportation,” and “recreation and entertainment.” “Passenger air transportation” turned down, decreasing 7.2 percent in the third quarter after increasing 11.1 percent in the second quarter. “Recreation and entertainment” also turned down, decreasing 5.5 percent after increasing 4.1 percent. Partially offsetting these downturns, “traveler accommodations” turned up, increasing 8.3 percent in the third quarter after decreasing 0.9 percent.

Real Tourism Spending Dec18

Travel and Tourism Spending Turned up in the Second Quarter of 2014

Real spending on travel and tourism turned up in the second quarter of 2014, increasing at an annual rate of 2.1 percent after decreasing 1.1 percent (revised) in the first quarter of 2014. Real gross domestic product (GDP) also experienced an upturn, increasing 4.2 percent (second estimate) in the second quarter after decreasing 2.1 percent in the first quarter. All major categories, with the exception of “traveler accommodations” contributed to the increase in the second quarter.

The leading contributors to the upturn in the second quarter were “recreation, entertainment, and shopping,” and “food services and drinking places.” “Recreation, entertainment, and shopping” increased 4.5 percent in the second quarter after decreasing 2.7 percent in the first quarter. “Food services and drinking places” increased 6.5 percent after decreasing 1.8 percent. “Transportation” increased as well, reflecting an upturn in “passenger air transportation” that was partly offset by a downturn “all other transportation-related commodities.” Partially offsetting these upturns, “traveler accommodations” decreased 0.8 percent in the second quarter after increasing 0.6 percent.travel tourism chart