IWS Documented News INTERNATIONAL

IWS Documented News Service

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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

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TRAVEL AND TOURISM SPENDING INCREASED IN THE FOURTH QUARTER 2011 [21 March 2012]

http://www.bea.gov/newsreleases/industry/tourism/tournewsrelease.htm

or

http://www.bea.gov/newsreleases/industry/tourism/2012/pdf/tour411.pdf

[full-text, 7 pages]

or

http://www.bea.gov/newsreleases/industry/tourism/2012/xls/tour411.xls

[spreadsheet]

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.

[Chart]

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....

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