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| Photo: U.S. Department of Commerce, Bureau of Economic Analysis (June 2010) |
Spending on travel and tourism increased at an annual rate of 3.9 percent in Q1 2010, following a decrease of 1.5 percent (revised) in Q4 2009, according to the U.S. Department of Commerce.
By comparison, real gross domestic product (GDP) increased 2.7 percent in Q1 2010 after increasing 5.6 percent in Q4 2009.
Real spending on traveler accommodations increased 11.0 percent in Q1 2010 after declining 7.9 percent in Q4 2009. Spending on passenger air transportation increased 4.5 percent in Q1 2010 after a decline of 9.8 percent in Q4 2009.
Prices for passenger air transportation increased for the third straight quarter, rising 13.3 percent in Q1 2010, 36.3 percent in Q4 2009, and 2.4 percent in Q3 2009. Prices for traveler accommodations turned down in Q1 2010, declining 6.4 percent after increasing 3.1 percent in Q4 2009. Overall, average prices of all travel and tourism goods and services rose 3.5 percent in Q1 2010.
Direct travel and tourism employment remained unchanged (0.0 percent) in Q1 2010 with gains in food services (1.0 percent) and shopping (1.1 percent) helping to offset losses in air transportation services (-1.4 percent) and traveler accommodations (-1.5 percent).
Source: Office of Travel & Tourism Industries (OTTI)
