Highlights of the Travel and Tourism Satellite Accounts for Third Quarter 2012

ttsa_1217_1Real spending on travel and tourism slowed in the third quarter of 2012, increasing at an annual rate of 0.6 percent after increasing 2.2 percent in the second quarter. The primary contributor to the slowdown was a downturn in all other transportation-related commodities, which includes motor vehicle fuel, travel arrangement and reservations services, and automotive renting and leasing.

Overall price growth in travel and tourism goods and ttsa_1217_2services turned down, decreasing 0.9 percent in the third quarter of 2012 following a 1.1 percent increase in the second quarter. The third quarter decrease reflected downturns in passenger air transportation prices for both domestic and international flights and in traveler accommodations prices.

Employment in the travel and tourism industries increased 1.3 percent in the third quarter of 2012 after increasing 1.1 percent in the second quarter. The increase reflected an upturn in recreation and ttsa1217_3entertainment and an acceleration in food services and drinking places.

To learn more about travel and tourism spending read the full report.

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