Direct tourism spending on recreation and entertainment in the third quarter grew at an annual rate of 1.3 percent to reach $89.3 billion, down dramatically from the 10.8 percent surge reported for the second quarter. Direct tourism spending on shopping, meanwhile, dropped at an annual rate of 0.5 percent to $102.3 billion, compared to an increase of 1.1 percent during the second quarter.
The slowed spending were among the trends that caused real spending on travel and tourism to decline at an annual rate of 1.0 percent in the third quarter of 2011, as tourist spent less on lodging, transportation and shopping and more on restaurants and recreation. Such spending increased at an annual rate of 3.2 percent (revised) in the second quarter.
By comparison, growth in real gross domestic product (GDP) increased 2.0 percent (second estimate) in the third quarter after increasing 1.3 percent in the second quarter.
By comparison, growth in real gross domestic product (GDP) increased 2.0 percent (second estimate) in the third quarter after increasing 1.3 percent in the second quarter.
In the third quarter of 2011, total current-dollar tourism-related spending reached $1.2 trillion. That included $813.2 billion (68 percent) of direct tourism spending – goods and services sold directly to visitors and $387.7 billion (32 percent) represented indirect tourism-related spending – or goods and services used to produce what visitors buy.
