U.S. Travel and Tourism Satellite Accounts: Fourth Quarter 2010
May 17, 2011 - The U.S. Department of Commerce recently announced that real U.S. travel and tourism output (adjusted for changes in price) increased at an annual rate of 2.5 percent in the fourth quarter of 2010, following an increase of 8.6 percent (revised) in the third quarter of 2010. By comparison, real gross domestic product (GDP) increased 3.1 percent during the fourth quarter.
Tourism Spending . Real travel and tourism spending turned up during the fourth quarter, the fourth consecutive quarter of growth, increasing 2.5 percent. In percentage terms, real spending on shopping exhibited the largest gains, increasing 6.2 percent during the quarter, followed by traveler accommodations (5.8%) and passenger air transportation services (3.6%).
Tourism Prices . Overall growth in prices for travel and tourism goods and services accelerated, increasing 3.4 percent in the fourth quarter following a 0.2 percent (revised) increase in the third. The slowdown in real spending on tourism mainly reflected a deceleration in international air transportation, primarily due to a strong upturn in prices and a slowdown in revenue.
Tourism Employment . Employment in air transportation services increased 1.6 percent in the fourth quarter. ;This increase was offset by decreases in traveler accommodations of 3.3 percent and recreation and entertainment of 5.2 percent.
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