Tourism Spending

Real spending on travel and tourism increased at an annual rate of 2.6 percent in the second quarter of 2011 after increasing 2.8 percent (revised) in the first quarter. Growth in travel and tourism outpaced growth in real gross domestic product (GDP), which increased 1.0 percent in the second quarter after increasing 0.4 percent in the first quarter. The growth in real spending on tourism primarily reflected increases in total transportation and in recreation and entertainment.

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. The growth in prices for travel and tourism goods and services reflected increases in prices for traveler accommodations and for gasoline.

Definitions: 
Tourism spending. Tourism spending comprises all goods and services purchased by tourists (defined as people who travel for any reason). In the following tables, tourism spending is referred to as direct tourism output.

Indirect tourism-related spending. Indirect tourism-related spending comprises all output used as inputs in the process of producing direct tourism output (e.g., toiletries for hotel guests and the plastic used to produce souvenir key chains).

Total tourism-related spending. Total tourism-related spending is the sum of direct tourism spending and indirect tourism-related spending.

Direct tourism employment. Direct tourism employment comprises all jobs where the workers are engaged in the production of direct tourism output (such as hotel staff, airline pilots, and souvenir sellers).

Indirect tourism-related employment. Indirect tourism-related employment comprises all jobs where the workers are engaged in the production of indirect tourism-related output (e.g., employees of companies that produce toiletries for hotel guests and the plastic used to produce souvenir key chains).

Total tourism-related employment. Total tourism-related employment is the sum of direct tourism employment and indirect tourism-related employment.

Justin Wolfers says good bye to DC

Life in D.C. is not just about public policy debates, it is also a wonderful city to live in. My usual running route takes me home past the White House, the Washington Monument, perhaps the Lincoln Memorial and Reflecting Pool, and for hill work, I head to the Capitol. There’s something special about running past monuments. There’s terrific trail running, too. Great restaurants are on every corner, although perhaps too many expense-account steakhouses. The cupcake scene is incredible. I would say something about the happy hour culture, but, well, I’m now a parent. So instead, I can say that a typical weekend might involve taking my daughter to visit the dinosaurs at the Natural History Museum, burn off steam in the atrium at the National Portrait Gallery, picnic in the Sculpture Garden, or take a twirl on the Carousel on the National Mall.

Justin Wolfers is one of our favorite economists!

Do check-out Wolfers' parenting habits;

OK, so one randomized trial that we actually did read had a huge impact on us, which was teaching babies sign language. And it turns out that this is a great way of even increasing their vocab before their speaking skills kick in. And Matilda speaks terrific sign language and his been able to sort of communicate her needs whether she wants milk or Cheerios, you know, for about a year now. No not a year, I misspoke, six, seven months now. But you know, preverbal. We made that a priority.

Tourism Fact of the Day

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According to the UN’s World Tourism Organisation, just 25 million people travelled abroad for holidays in 1950. Today, the figure is more than 800 million, representing an annual growth rate of about 6.5%.

Random Charts

Assorted Data

Yearbook of Tourism Statistics, 2010 Edition

 Arrivals

A. Border statistics

Table 1. Arrivals of non-resident tourists at national borders

Table 2. Arrivals of non-resident visitors at national borders

B. Statistics on accommodation establishments

Table 3. Arrivals of non-resident tourists in hotels and similar establishments

Table 4. Arrivals of non-resident tourists in all types of accommodation establishments

Overnight stays

Table 5. Overnight stays of nonresident tourists in hotels and similar establishments

Table 6. Overnight stays of nonresident tourists in all types of accommodation establishments.

Trade Profiles 2010