Posts Tagged 'travel and tourism'

Travel and Tourism Spending Decelerated in the Third Quarter of 2015

Real spending (output) on travel and tourism decelerated in the third quarter of 2015, increasing at an annual rate of 4.3 percent after increasing 8.4 percent (revised) in the second quarter of 2015. Real gross domestic product (GDP) also decelerated, increasing 2.1 percent (second estimate) in the third quarter after increasing 3.9 percent.

The leading contributors to the deceleration in the third quarter were “traveler accommodations” and “recreation and entertainment.” Real spending on “traveler accommodations” decelerated, increasing 4.0 percent in the third quarter after increasing 13.5 percent (revised) in the second quarter. Real spending on “recreation and entertainment” turned down, declining 8.1 percent, after increasing 5.6 percent in the previous quarter.

Real Tourism Spending 1216

Tourism Prices. Price growth for travel and tourism goods and services turned down in the third quarter of 2015, decreasing 0.3 percent following an increase of 0.5 percent (revised) in the second quarter.  The downturn was mainly attributable to a downturn in “all other transportation-related commodities,” which includes gasoline, travel arrangements and reservation services, and automotive rental. This commodity group decreased 0.2 percent after increasing 14.4 percent in the second quarter. Prices for “traveler accommodations” turned up in the third quarter, partially offsetting the downturn in prices for “all other transportation-related commodities.”
Tourism Prices 1216

For more information, read the full report.

 

 

 

Travel and Tourism Spending Accelerated in the Second Quarter of 2015

Real spending (output) on travel and tourism accelerated in the second quarter of 2015, increasing at an annual rate of 6.5 percent after increasing 2.2 percent (revised) in the first quarter of 2015. Real gross domestic product (GDP) also accelerated, increasing 3.7 percent (second estimate) in the second quarter after increasing 0.6 percent.

The leading contributors to the acceleration in the second quarter were “traveler accommodations” and “passenger air transportation.” Real spending on “traveler accommodations” accelerated, increasing 13.2 percent in the second quarter after increasing 3.5 percent (revised) in the first quarter, partly reflecting higher hotel occupancy rates. Real spending on “passenger air transportation” increased 11.6 percent, after increasing 2.5 percent, reflecting increased capacity and decreasing fares.

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For more information, read the full report.

First Quarter 2015 Travel and Tourism Spending Data to Be Released June 23

Statistics on what Americans and foreigners spent on travel and tourism in the United States in the first quarter of 2015 will be released Tuesday, June 23 by the Bureau of Economic Analysis (BEA).

The statistics, part of BEA’s Travel and Tourism Satellite Accounts, provide a breakdown of the various components of travel and tourism spending, including lodging, meals, air travel, and shopping. The statistics will also provide data on employment in the tourism industry.

These statistics, which will be available at 8:30 a.m. eastern time on BEA’s website (www.bea.gov) and by email subscription, can be used for the following purposes:

  • To assess the effects of travel and tourism on the U.S. economy
  • To compare national trends to locally observed trends
  • To examine the relationship among the travel and tourism industries
  • To compare travel and tourism industries to other industries.