Tourism Prices. Overall growth in prices for travel and tourism goods and services turned up in the first quarter of 2014, increasing 2.3 percent following an ever-so-slight (0.2 percent) decrease in the fourth quarter. The upturn was mainly attributable to an upturn in prices for traveler accommodations, which increased 13.2 percent in the first quarter after decreasing 8.0 percent in the fourth quarter. In contrast, prices for passenger air transportation turned down, decreasing 5.5 percent in the first quarter after increasing 7.0 percent in the fourth quarter.
Tourism Spending. Real spending on recreation and entertainment turned down, decreasing 11.2 percent in the first quarter after increasing 0.9 percent in the fourth quarter. Real spending on food services and drinking places also turned down, decreasing 3.5 percent in the first quarter after increasing 7.4 percent in the fourth quarter.
Tourism Employment. Employment in the travel and tourism industries continues to rise, increasing 2.1 percent in the first quarter of 2014 after increasing 2.7 percent in the fourth quarter of 2013. By comparison, overall U.S. employment increased 1.5 percent in the first quarter after increasing 1.8 percent in the fourth quarter. Air transportation services and food services and drinking places were significant contributors to employment growth.
WHAT TO TAKE AWAY FROM THIS ARTICLE:
- Overall growth in prices for travel and tourism goods and services turned up in the first quarter of 2014, increasing 2.
- Employment in the travel and tourism industries continues to rise, increasing 2.
- 1 percent in the first quarter of 2014 after increasing 2.
