Archive for the 'Travel and Tourism' Category

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. 

Travel and Tourism Spending Accelerated in the First Quarter

Real spending (output) on travel and tourism accelerated in the first quarter of 2016, increasing at an annual rate of 5.2 percent after increasing 1.5 percent (revised) in the fourth quarter of 2015. By comparison, real gross domestic product (GDP) decelerated, increasing 0.8 percent in the first quarter (second estimate) after increasing 1.4 percent in the fourth quarter of 2015.

The leading contributors to the acceleration in the first quarter were “all other transportation-related goods and services” and “passenger air transportation.” “All other transportation-related goods and services” turned up, increasing 3.4 percent after decreasing 6.9 percent in the fourth quarter of 2015. “Passenger air transportation” accelerated, increasing 24.8 percent in the first quarter after increasing 13.0 percent in the fourth quarter.

TTSA June 23

For more information, read the full report.

Travel and Tourism Spending Decelerated in Fourth Quarter of 2015

Inflation adjusted spending (or output) on travel and tourism decelerated in the fourth quarter of last year, increasing at an annual rate of 1.7 percent, after rising 4.5 percent in the third quarter.

For comparison, inflation-adjusted — or real — gross domestic product also decelerated during the same period, increasing 1.0 percent in the fourth quarter, after rising 2.0 percent.

The leading contributors to the deceleration in overall travel and tourism spending in the fourth quarter were transportation and traveler accommodations. Inflation adjusted spending on transportation decelerated, growing 1.0 percent in the fourth quarter, after increasing 8.5 percent in the third quarter. Inflation adjusted spending on traveler accommodations turned down, decreasing 4.2 percent, after increasing 4.0 percent in the previous quarter.

For all of 2015, travel and tourism spending grew 4.4 percent, after increasing 3.1 percent in 2014.

For more information, read the full report.

real tourism spending 0316


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