Travel and Tourism Picture

Total U.S. tourism industry sales increased 3.0 percent (seasonally adjusted annual rate) to $712.9 billion in the second quarter of 2003, according to preliminary estimates by the U.S. Bureau of Economic Analysis. Total tourism sales are now 7.8 percent higher than their fourth quarter 2001 trough of $661.6 billion, but remain 5.1 percent below their pre-September 11, 2001 peak of $751.3 billion. In the first quarter of 2003, revised total tourism industry sales show a decrease of 3.3 percent, 0.1 percentage point lower than BEA’s June estimate.

Direct tourism industry sales increased $2.9 billion to $382.2 billion, which is 3.5 percent of current dollar GDP. Direct tourism sales are sales by tourism industries to out-of-town visitors. Examples are sales by airlines and restaurants to leisure and business travelers. Direct sales of hotel and lodging places grew 5.6 percent in the second quarter to $111.3 billion, and sales of eating and drinking places grew 7.9 to $66.1 billion. Partly offsetting these increases was a decrease in air transportation of 4.7 percent to $88.2 billion.

Indirect tourism industry sales increased $2.3 billion to $330.7 billion. Indirect tourism sales are sales to tourism industries by the chain of industries that supply them. Examples are sales of fuel to airlines and oil to the fuel refineries supplying the airlines, and sales of bread to restaurants and grain to the food-processing industries supplying the restaurants.

What is happening with tourism in your region and state? Hopefully you are ready for gthe expected uptick expected in 2004. It's coming.

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