Travel and Tourism Spending Accelerated in the Second Quarter of 2015
Real spending (output) on travel and tourism accelerated in the second quarter of 2015, increasing at an annual rate of 6.5 percent after increasing 2.2 percent (revised) in the first quarter of 2015. Real gross domestic product (GDP) also accelerated, increasing 3.7 percent (second estimate) in the second quarter after increasing 0.6 percent.
The leading contributors to the acceleration in the second quarter were “traveler accommodations” and “passenger air transportation.” Real spending on “traveler accommodations” accelerated, increasing 13.2 percent in the second quarter after increasing 3.5 percent (revised) in the first quarter, partly reflecting higher hotel occupancy rates. Real spending on “passenger air transportation” increased 11.6 percent, after increasing 2.5 percent, reflecting increased capacity and decreasing fares.
Tourism Prices. Price growth for travel and tourism goods and services turned up in the second quarter of 2015, increasing 1.0 percent following a decrease of 8.7 percent (revised) in the first quarter. The upturn was mainly attributable to an upturn in prices for “all other transportation-related commodities,” which includes gasoline; this commodity group increased 16.5 percent in the second quarter after decreasing 34.0 percent in the first quarter. “Traveler accommodations” turned down in the second quarter, partially offsetting the upturn in prices for “all other transportation-related commodities.”
Tourism Employment. Employment in the travel and tourism industries decelerated, increasing 1.6 percent in the second quarter of 2015 after increasing 2.3 percent (revised) in the first quarter. In comparison, overall U.S. employment increased 1.7 percent in the second quarter after increasing 2.2 percent in the first quarter. “Food services and drinking places” was the most significant contributor to employment growth, increasing 2.3 percent in the second quarter, followed by “recreation, entertainment, and shopping.”
Total Tourism-Related Output was $1.6 trillion in the second quarter of 2015. It consisted of $906.4 billion (58 percent) of direct tourism spending and $656.9 billion (42 percent) of indirect tourism-related spending.
Total Tourism-Related Employment was 8.0 million jobs in the second quarter of 2015 and consisted of 5.6 million (70 percent) direct tourism jobs and 2.4 million (30 percent) indirect tourism-related jobs.
Tourism spending. Total tourism-related spending consists of direct tourism output and indirect tourism output. Direct tourism output comprises all domestically produced goods and services purchased by travelers (for example, traveler accommodations and passenger air transportation). Indirect tourism output comprises all output required to support the production of direct tourism output (for example, toiletries for hotel guests and fuel for airplanes).
Tourism employment. Total tourism-related employment consists of direct tourism employment plus indirect tourism employment. Direct tourism employment comprises all jobs where the workers are engaged in the production of direct tourism output (for example, hotel staff and airline pilots). Indirect tourism employment comprises all jobs where the workers are engaged in the production of indirect tourism output (for example, workers producing hotel toiletries and delivering fuel to airlines).
These statistics are from BEA’s Travel and Tourism Satellite Accounts (TTSAs), which are supported by funding from the Office of Travel and Tourism Industries, International Trade Administration, U.S. Department of Commerce. The current-price statistics of direct tourism output were derived from BEA’s annual TTSAs and from current-price quarterly statistics of personal consumption expenditures from the National Income and Product Accounts (NIPAs). The real statistics of direct tourism output were developed using price indexes from the Bureau of Labor Statistics (BLS) and real quarterly statistics of personal consumption expenditures from the NIPAs. The statistics of direct tourism employment were derived from the annual TTSAs (revised in June 2015) from BEA, the Quarterly Census of Employment and Wages (QCEW), and Current Employment Statistics (CES) from BLS.
Quarterly statistics are seasonally adjusted and expressed at annual rates, unless otherwise specified. Percent changes are calculated from unrounded data and annualized. Real values are in chained (2009) dollars. Price indexes are Fisher chain-type measures. Growth in overall U.S. employment is calculated using BLS total nonfarm employment from Current Employment Statistics, www.bls.gov/ces/home.htm#data.
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Next release – Travel and Tourism statistics for third quarter 2015 will be released on Wednesday, December 16, 2015 at 8:30 A.M. EST