Travel and tourism spending increased in the 4th quarter 2011
Real spending on travel and tourism increased at an annual rate of 4.6 percent in the fourth quarter of 2011 after increasing 0.6 percent (revised) in the third quarter. By comparison, growth in real gross domestic product (GDP) increased 3.0 percent (second estimate) in the fourth quarter after increasing 1.8 percent in the third quarter. The increase in real spending on tourism primarily reflected increases in traveler accommodations and in food services and drinking places. For the year, total real spending on travel and tourism increased 3.5 percent in 2011 after increasing 3.0 percent in 2010.
Overall growth in prices for travel and tourism goods and services turned down, decreasing 1.2 percent in the fourth quarter of 2011 following a 5.2 percent (revised) increase in the third quarter.
The decline in prices for travel and tourism goods and services reflected decreases in prices for traveler accommodations and for total transportation. For the year, overall prices for travel and tourism goods and services increased 4.6 percent in 2011 after increasing 3.6 percent in 2010.