Wednesday, September 24, 2008

[IWS] BEA: U.S. Travel and Tourism Satellite Accounts: Second Quarter 2008 [24 September 2008]

IWS Documented News Service
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations
-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor
---------------------- Stuart Basefsky
New York, NY 10016
-------------------------------Director, IWS News Bureau

U.S. Travel and Tourism Satellite Accounts: Second Quarter 2008 [24 September 2008]
[full-text, 7 pages]

Real spending on travel and tourism (spending adjusted for price changes) increased at an annual rate of 3.0 percent in 2008:2, according to the Bureau of Economic Analysis. In 2008:1, real spending on travel and tourism grew 0.5 percent (revised). By comparison, real gross domestic product (GDP) grew at an annual rate of 3.3 percent (preliminary) in 2008:2 and 0.9 percent in 2008:1.

Real spending on accommodations turned up sharply, increasing 19.4 percent in 2008:2 after decreasing 9.1 percent in 2008:1. In contrast, real spending on passenger air transportation turned down sharply, decreasing 19.3 percent in 2008:2 after increasing 18.1 percent (revised) in 2008:1. Reductions in flights, higher airfares, and new fees intended to offset higher fuel costs reduced air travel, particularly to resorts. In response, hotels reduced prices and added incentives that increased overall hotel occupancy.

AND MUCH MORE....including TABLES....

This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.

Stuart Basefsky                   
Director, IWS News Bureau                
Institute for Workplace Studies 
Cornell/ILR School                        
16 E. 34th Street, 4th Floor             
New York, NY 10016                        
Telephone: (607) 255-2703                
Fax: (607) 255-9641                       

<< Home

This page is powered by Blogger. Isn't yours?