Posts Tagged 'travel and tourism'

Travel and Tourism Spending Accelerated in the Third Quarter

Real Tourism Spending.  Real spending on travel and tourism accelerated in the third real-tourism-spending-1214quarter of 2016, increasing at an annual rate of 5.0 percent after increasing 4.5 percent (revised) in the second quarter according to new statistics released by the Bureau of Economic Analysis.  By comparison, real gross domestic product (GDP) increased 3.2 percent in the third quarter after increasing 1.4 percent in the second.

 

 

Tourism Prices.  Prices for travel and tourism goods and services decreased  in the third quarter of 2016, decreasing 0.5 percent following an increase of 1.4 percent (revised) in thetourism-price-1214 second quarter.  The downturn was mainly attributable to price declines for “traveler accommodations.”   Prices for “food and beverage services” rose, but at a slower pace.

 

 

 

Tourism Employment.  Employment in the travel antour-employment-1216d tourism industries accelerated in the third quarter, increasing 1.8 percent after increasing 1.3 percent (revised) in the second quarter. “Food services and drinking places” was the most significant contributor to travel and tourism employment growth, adding 9,100 employees. “Transportation” added 6,200 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 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.

 

 

 


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