Travel and Tourism Satellite Account: Third Quarter 2017
Real spending (output) connected recreation and tourism accelerated successful nan 3rd 4th of 2017, increasing astatine an yearly complaint of 6.6 percent aft expanding 6.0 percent (revised) successful nan 2nd quarter, according to caller statistic released by nan Bureau of Economic Analysis. Real gross home merchandise (GDP) for nan federation besides accelerated, expanding 3.3 percent successful nan 3rd 4th (second estimate) aft expanding 3.1 percent successful nan 2nd 4th of 2017.
The starring contributors to nan acceleration successful existent spending were traveler accommodations and nutrient and beverage services. Traveler accommodations accelerated, increasing 13.5 percent successful nan 3rd 4th aft expanding 3.8 percent (revised) successful nan 2nd quarter. Food and beverage services accrued 0.6 percent aft decreasing 1.4 percent (revised) successful nan erstwhile quarter.
Tourism Prices. Prices for recreation and tourism equipment and services decreased 1.1 percent successful nan 3rd 4th of 2017. This was a smaller alteration than nan 3.2 percent (revised) diminution successful nan 2nd quarter. The alteration was mostly attributable to nan prices of traveler accommodations and rider aerial transportation.
Prices for traveler accommodations decreased 9.9 percent successful nan 3rd quarter, a larger diminution than nan 0.3 percent (revised) alteration successful nan erstwhile quarter. In nan 3rd quarter, rider aerial proscription prices decreased 6.7 percent aft decreasing 3.4 percent (revised) successful nan 2nd 4th of 2017.
Transportation-related commodity prices accrued successful nan 3rd quarter. This price, which includes gasoline, accrued 7.4 percent successful nan 3rd 4th aft decreasing 11.2 percent (revised) successful nan erstwhile quarter.
Tourism Employment. Employment successful nan recreation and tourism industries decelerated, increasing 1.2 percent successful nan 3rd 4th of 2017 aft expanding 2.1 percent (revised) successful nan erstwhile quarter. Overall U.S. employment maturation remained steady, expanding 1.3 percent successful nan 3rd 4th aft expanding 1.3 percent successful nan 2nd quarter.
- Traveler accommodations was nan starring contributor to nan deceleration, losing astir 800 labor successful nan 3rd 4th of 2017 aft adding 6,400 labor successful nan 2nd quarter.
- Food and beverage services besides contributed to nan deceleration, adding astir 5,600 labor successful this 4th aft adding 11,800 labor successful nan erstwhile 4th of 2017.
Total Tourism-Related Output was $1.6 trillion successful nan 3rd 4th of 2017, comprising $945 cardinal (58 percent) of nonstop tourism spending and $682 cardinal (42 percent) of indirect tourism-related spending.
Total Tourism-Related Employment was 7.9 cardinal jobs successful nan 3rd 4th of 2017, comprising 5.5 cardinal (70 percent) nonstop tourism jobs and 2.4 cardinal (30 percent) indirect tourism-related jobs.
These statistic are from BEAs Travel and Tourism Satellite Accounts (TTSAs), which are supported by backing from nan Office of Travel and Tourism Industries, International Trade Administration, U.S. Department of Commerce. The current-price statistic of nonstop tourism output were derived from BEAs yearly TTSAs and from current-price quarterly statistic of individual depletion expenditures from nan National Income and Product Accounts (NIPAs). The existent statistic of nonstop tourism output were developed utilizing value indexes from nan Bureau of Labor Statistics (BLS) and existent quarterly statistic of individual depletion expenditures from nan NIPAs. The statistic of nonstop tourism employment were derived from nan yearly TTSAs from BEA, nan Quarterly Census of Employment and Wages (QCEW), and Current Employment Statistics (CES) from BLS.
Discontinuation of Quarterly Travel and Tourism Estimates
Due to fund constraints, BEA is discontinuing accumulation of quarterly recreation and tourism estimates. Annual estimates, published each June successful BEAs Survey of Current Business, will proceed to beryllium produced pinch support from nan Office of Travel and Tourism Industries, International Trade Administration, U.S. Department of Commerce.
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