Real spending (output) on travel and tourism accelerated in the third quarter of 2016, increasing at an annual rate of 5.0 percent after increasing 4.5 percent (revised) in the second quarter according to new statistics released by the Bureau of Economic Analysis. By comparison, real gross domestic product (GDP) increased 3.2 percent in the third quarter after increasing 1.4 percent in the second.

The leading contributors to the third-quarter growth in travel and tourism were “traveler accommodations” and “passenger air transportation.”  “Traveler accommodations” increased 8.3 percent after increasing 13.6 percent (revised) in the second quarter.  In the third quarter “passenger air transportation” increased 12.4 percent after increasing 5.6 percent in the previous quarter.

Tourism Prices – Prices for travel and tourism goods and services decreased in the third quarter of 2016 by 0.5 percent following an increase of 1.4 percent (revised) in the second quarter. The downturn was mainly attributable to price declines for “traveler accommodations.” Prices for “food and beverage services” rose, but at a slower pace.

Tourism Employment – Employment in the travel and tourism industries accelerated in the third quarter, increasing 1.8 percent after increasing 1.3 percent (revised) in the second quarter. “Food services and drinking places” was the most significant contributor to travel and tourism employment growth, adding 9,100 employees. “Transportation” added 6,200 employees.

Total Tourism-Related Output was $1.6 trillion in the third quarter of 2016. It consisted of $944.2 billion (57 percent) of direct tourism spending and $699.2 billion (43 percent) of indirect tourism-related spending.

Total Tourism-Related Employment was 7.7 million jobs in the third quarter of 2016, and consisted of 5.4 million (70 percent) direct tourism jobs and 2.3 million (30 percent) indirect tourism-related jobs.

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Next release:  Wednesday, March 15, 2017 at 8:30 A.M. EST
Travel and Tourism statistics:  Fourth Quarter, 2016