US Travel and Tourism Sector Update

Growth in real tourism output slowed to an annual rate of 1.4 percent in the second quarter of 2006, according to data released by the U.S. Bureau of Economic Analysis. In the first quarter of 2006, real tourism output grew 5.0 percent (revised). By comparison, real gross domestic product (GDP) grew at an annual rate of 2.9 percent in the second quarter of 2006, and 5.6 percent in the first quarter of 2006.

Tourism employment rose 3.1 percent in the first quarter of 2006, the largest quarterly increase in direct tourism employment in two years. By comparison, overall U.S. employment grew 1.7 percent in the first quarter of 2006.

Other highlights from this release of the travel and tourism satellite accounts include:

-Prices for tourism goods and services rose 7.4 percent in the second quarter of 2006, while the overall GDP price index rose 3.3 percent in the second quarter.

-Total current-dollar tourism-related output increased to $1.2 trillion in the second quarter of 2006.

-Total tourism-related employment accounted for 8.3 million jobs in the first quarter of 2006.