Real spending on travel and tourism rebounded much fast than the overall economy in the second quarter as travel and lodging prices continued climbing, the U.S. Department of Commerce reported.
Further details from the report include:
- Employment: After eight consecutive quarters of declines, direct tourism-related employment turned up, increasing 2.2% in 2010:2. By comparison, overall U.S. employment increased 2.2% in 2010:2 and increased 0.2% in 2010:1.
- Air Travel: Passenger air transportation spending increased 3.9% in 2010:2 and 4.0% in 2010:1.
- Lodging: Accommodations spending decelerated, increasing 6.1% in 2010:2 after increasing 13.4% in 2010:1.
- Prices: Prices for passenger air transportation continued their strong growth, rising 16.0% in 2010:2. Prices for traveler accommodations showed a sharp upturn, increasing 19.0% in 2010:2 after decreasing 6.4% in 2010:1. Higher occupancy rates created pricing opportunities for hotels.