The U.S. Travel & Tourism Outlook
We have posted a new industry report from the U.S. Bureau of Economics regarding the U.S. Travel & Tourism industry. Overall, as we know - things are not so good for this sector right now. The industry shrank in 2008 for the first time in seven years.
- The overall downturn reflected faster declines in domestic passenger air transportation, gasoline, and gambling (see report for actual statistics)
- Due to inflation the 5.2% increase in travel and tourism prices reflected an in prices for gasoline, domestic passenger air transportation services, and international passenger air transportation, as well as automotive rental and leasing.
- Tourism related output is however, up 3.6%. Inbound travel and tourism is high, increasing 14.2% in 2008.
- Travel & tourism employment declined for the first time in 2008 since 2003.
There’s so much more in the report - you can find it here
The Inscite Research Blog
Tuesday, July 7, 2009
Image is Boeing obviously
