BEA: Tourism Spending Up in Second Quarter

by Dave on September 23, 2010

Spending on travel and tourism was up this spring at a rate of 3%, according to a report released today from the US Bureau of Economic Analysis. Air transportation spending and accommodations spending both increased during the second quarter. Here is the BEA release:

Real spending on travel and tourism increased at an annual rate of 3.0 percent in 2010:2, following an increase of 5.0 percent (revised) in 2010:1. By comparison, real gross domestic product (GDP) increased 1.6 percent (second estimate) in 2010:2 after increasing 3.7 percent in 2010:1. Travel and tourism prices increased 2.7 percent in 2010:2 after increasing 4.1 percent (revised) in 2010:1.

* Passenger air transportation spending increased 3.9 percent in 2010:2 and 4.0 percent in 2010:1.
* Accommodations spending decelerated, increasing 6.1 percent in 2010:2 after increasing 13.4 percent in 2010:1.
* Prices for accommodations turned up in 2010:2, increasing 19.0 percent, after decreasing 6.4 percent in 2010:1.

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