News for the Hospitality Executive |
May
16, 2011
- The U.S.
Department of Commerce recently announced that real U.S. travel and
tourism
output (adjusted for changes in price) increased at an annual rate of
2.5
percent in the fourth quarter of 2010, following an increase of 8.6
percent
(revised) in the third quarter of 2010. By comparison, real gross
domestic
product (GDP) increased 3.1 percent during the fourth quarter.
Travel and Tourism Satellite Accounts form an indispensable statistical instrument that allows the United States to measure the relative size and importance of the travel and tourism industry, along with its contribution to gross domestic product (GDP). Approved by the United Nations in March 2002 and endorsed by the U.N. Statistical Commission, TTSAs have become the international standard by which travel and tourism is measured. In fact, more than fifty countries around the world have embraced travel and tourism satellite accounting as the only comprehensive, comparable, and credible measure of travel and tourism and its impact on national economies. For more information on TTSAs, please visit: <http://www.bea.gov/industry/iedguide.htm#ttsa_ou >. To view the Q4 2010 release in its entirety, visit: <http://www.bea.gov/newsreleases/industry/tourism/2011/pdf/tour410.pdf>. |
Contact:
U.S. Department of Commerce |