Travel and Tourism Spending Accelerated in the Second Quarter

ttsa-sept-14Real Tourism Spending.  Real spending on travel and tourism accelerated in the second quarter of 2016, increasing at an annual rate of 4.7 percent after increasing 1.2 percent (revised) in the first quarter, according to new statistics released by the Bureau of Economic Analysis.  By comparison, real gross domestic product (GDP) increased 1.1 percent in the second quarter of 2016 after increasing 0.8 percent in the first.

tourism-prices-sept-14Tourism Prices.  Prices for travel and tourism goods and services decelerated in the second quarter of 2016, increasing 1.7 percent following an increase of 3.1 percent (revised) in the first quarter.  The deceleration was mainly attributable to a downturn in prices for “passenger air transportation” and “traveler accommodations.” “All other transportation” prices accelerated.

tourism-employment-sept-14Tourism Employment.  Employment in the travel and tourism industries accelerated in the second quarter, increasing 1.4 percent after increasing 0.4 percent in the first quarter.   “Food services and drinking places” was the most significant contributor to travel and tourism employment growth, adding 5.6 thousand employees. “Recreation and entertainment” added 5.2 thousand employees.

For more information, read the full report. 

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