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September 28, 2011

U.S. Travel and Tourism Satellite Accounts: Second Quarter 2011

Fifth consecutive quarter of growth in travel and tourism-related employment

The U.S. Department of Commerce recently announced that real U.S. travel and tourism output (adjusted for changes in price) increased at an annual rate of 2.6 percent in the second quarter of 2011, following an increase of 2.8 percent (revised) in the first quarter. By comparison, real gross domestic product (GDP) increased 1.0 percent during the second quarter.

Tourism Spending. Real spending on passenger air transportation increased 5.4 percent in the second quarter of 2011 after decreasing 7.8 percent in the first quarter. Capacity utilization increased, even as prices rose to cover rising fuel costs. Real spending on traveler accommodations decreased 0.4 percent in the second quarter after increasing 15.0 percent in the first quarter.

Tourism Prices. Overall growth in prices for travel and tourism goods and services remained high, increasing 7.3 percent in the second quarter of 2011 following an 8.5 percent (revised) increase in the first quarter. Prices for passenger air transportation continued to rise, increasing 7.9 percent in the second quarter after increasing 18.7 percent in the first quarter. Air passengers paid more in the second quarter as fuel costs continued to rise. Traveler accommodation prices increased appreciably, too, rising 16.7 percent in the first quarter.

Tourism Employment. Direct tourism-related employment increased 2.6 percent in the second quarter of 2011 after increasing 2.0 percent (revised) in the first quarter. By comparison, overall U.S. employment increased 1.4 percent in the second quarter after increasing 1.3 percent in the first quarter. All industries saw increases in employment with traveler accommodations experiencing the largest growth at 4.6 percent.

Change in 'Real U.S. Travel and Tourism  Output  vs. GDP'
Source: U.S. Department of Commerce, Bureau of Economic Analysis, U.S. Travel and Tourism Satellite Account (TTSA).

The Bureau of Economic Analysis, through funding provided by the Office of Travel and Tourism Industries, International Trade Administration, U.S. Department of Commerce, produces the U.S Travel and Tourism Satellite Accounts (TTSAs) from which these estimates were derived.

Travel and Tourism Satellite Accounts form an indispensable statistical instrument that allows the United States to measure the relative size and importance of the travel and tourism industry, along with its contribution to gross domestic product (GDP).

Approved by the United Nations in March 2002 and endorsed by the U.N. Statistical Commission, TTSAs have become the international standard by which travel and tourism is measured. In fact, more than fifty countries around the world have embraced travel and tourism satellite accounting as the only comprehensive, comparable, and credible measure of travel and tourism and its impact on national economies.

For more information on TTSAs, please visit: < http://www.bea.gov/industry/iedguide.htm#ttsa_ou >.

To view the Q2 2011 release in its entirety, visit: < http://www.bea.gov/newsreleases/industry/tourism/2011/pdf/tour111.pdf >.

You can find out more information about the TTSA program on our website: http://tinet.ita.doc.gov/research/programs/satellite/index.html

Subscribe to the Bureau of Economic Analysis' TTSA newsletter: < http://service.govdelivery.com/service/multi_subscribe.html?code=USBEA >.