Travel and tourism is up 2.6% in the second quarter, the Bureau of Economic Analysis reported today. Total spending hit $1.2 trillion in the U.S., including $383 billion spent just to produce the goods and services that would be sold to tourists.
From the report:
- Employment grew to 5.43 million from 5.39 million last quarter and 5.32 million last year.
- Prices for goods and services increased 7.3%.
- Hotel accomodation costs were up 16.7% this quarter, after a down 3.3% in the first quarter
The Commerce Department notes that foreign travellers spent $13.3 billion in the U.S. this July, up 15% from year ago figures. Through the first half of the year, the tourism surplus has topped $23 billion, with U.S. travellers spending $63.7 billion overseas to their $86.9 billion here. The Commerce report does not include U.S. travellers moving throughout the country.
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