Real spending on tourism related recreation and entertainment slowed in the fourth quarter of 2013, increasing at an annual rate of 0.9 percent to $76.5 billion, after increasing at a 5.1 percent rate in the third quarter of 2013, according to the Bureau of Economic Research at the U.S. Department of Commerce.
Tourist spending on shopping, however, accelerated in the quarter, increasing 4.3 percent to 96.2 billion, compared with a 2.7 percent increase in the third quarter.
Total real spending on travel and tourism, which also includes spending on gas, air travel, restaurants, grew at an annual rate of 4.2 percent after increasing 3.1 percent (revised) in the third quarter of 2013.
In contrast, growth in real gross domestic product (GDP) decelerated, increasing 2.4 percent (second estimate) in the fourth quarter after increasing 4.1 percent in the third quarter.
For the year, real spending on travel and tourism increased 3.6 percent in 2013 after increasing 2.8 percent in 2012. By comparison, real GDP increased 1.9 percent in 2013 after increasing 2.8 percent in 2012.
