Wednesday, March 21, 2012
[IWS] BEA: TRAVEL AND TOURISM SPENDING INCREASED IN THE FOURTH QUARTER 2011 [21 March 2012]
IWS Documented News Service
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
TRAVEL AND TOURISM SPENDING INCREASED IN THE FOURTH QUARTER 2011 [21 March 2012]
[full-text, 7 pages]
Real spending on travel and tourism increased at an annual rate of 4.6 percent in the fourth quarter of 2011 after increasing 0.6 percent (revised) in the third quarter. By comparison, growth in real gross domestic product (GDP) increased 3.0 percent (second estimate) in the fourth quarter after increasing 1.8 percent in the third quarter. The increase in real spending on tourism primarily reflected increases in traveler accommodations and in food services and drinking places. For the year, total real spending on travel and tourism increased 3.5 percent in 2011 after increasing 3.0 percent in 2010.
Overall growth in prices for travel and tourism goods and services turned down, decreasing 1.2 percent in the fourth quarter of 2011 following a 5.2 percent (revised) increase in the third quarter. The decline in prices for travel and tourism goods and services reflected decreases in prices for traveler accommodations and for total transportation. For the year, overall prices for travel and tourism goods and services increased 4.6 percent in 2011 after increasing 3.6 percent in 2010.
Employment in the travel and tourism industries increased 1.2 percent in the fourth quarter of 2011 after increasing 1.7 percent (revised) in the third quarter. By comparison, overall U.S. employment increased 1.4 percent in the fourth quarter after increasing 0.9 percent in the third quarter. For the year 2011, tourism-related employment increased 1.5 percent after decreasing 1.4 percent in 2010.
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.