Loading ...
Sorry, an error occurred while loading the content.

FW: TI News: An information service from Office of Travel & Tourism Industries (OTTI) - Economic Downturn Continues to Weaken Tourism Industry - Accelerating Job Losses, Sharp Declines in Spending Send Discouraging Signals

Expand Messages
  • Bristow, Robert
    an FYI from the Office of Travel and Tourism Industries. rob Robert S. Bristow, Ph.D. Geography & Regional Planning Westfield State College Westfield, MA 01086
    Message 1 of 1 , Aug 19 6:11 AM
    • 0 Attachment
      an FYI from the Office of Travel and Tourism Industries. 
       
      rob
       
      Robert S. Bristow, Ph.D.
      Geography & Regional Planning
      Westfield State College
      Westfield, MA 01086
       
      413-572-5215

      From: Office of Travel and Tourism Industries [tinet_info@...]
      Sent: Tuesday, August 18, 2009 4:28 PM
      To: Bristow, Robert
      Subject: TI News: An information service from Office of Travel & Tourism Industries (OTTI) - Economic Downturn Continues to Weaken Tourism Industry - Accelerating Job Losses, Sharp Declines in Spending Send Discouraging Signals

       

      TI News: An information service from Office of Travel & Tourism Industries (OTTI)

      August 18, 2009

      Economic Downturn Continues to Weaken Tourism Industry

      Accelerating Job Losses, Sharp Declines in Spending Send Discouraging Signals

      Key statistics recently released by the Commerce Department for the first quarter of 2009 confirm that the current economic downturn has created the most difficult environment for the U.S. tourism industry since 9/11.

      Total tourism-related employment decreased by 149,000 during the first quarter, settling at 8.35 million. This is the second largest quarterly drop on record and the worst since the fourth quarter of 2001. Job losses continued to accelerate, slipping from -4.0% to -6.8% (annualized) for the quarter.

      If the industry continues to eliminate jobs at the present rate, this would translate into a loss of 581,000 industry-supported jobs for the year and would effectively erase over a decade’s worth of job growth in the industry.

      Total tourism-related spending figures suggest that the U.S. tourism industry shrank by 15.4% during the first quarter; by comparison, current-dollar U.S. GDP contracted at the rate of 4.6% during the same period.

      Spending on U.S. Travel and Tourism (by Quarter)

      To view this report in its entirety, please visit: http://tinet.ita.doc.gov/research/programs/satellite/index.html

      These estimates are from the Travel and Tourism Satellite Accounts (TTSAs), which are supported by funding from the Office of Travel and Tourism Industries, International Trade Administration, U.S. Department of Commerce. For more information on TTSAs, please visit: http://www.bea.gov/industry/iedguide.htm#ttsa_ou

      To subscribe to the Bureau of Economic Analysis’ TTSA newsletter, please visit: http://service.govdelivery.com/service/multi_subscribe.html?code=USBEA

      You can update or cancel your subscription at any time by clicking here.  All you will need are your e-mail address and your password (if you have selected one).

      This service is provided free of charge by: Office of Travel and Tourism Industries.

      P.S. If you have any questions or problems please contact Tinet_Info@... for assistance.

      GovDelivery, Inc. sending on behalf of the International Trade Administration · 1401 Constitution Avenue NW · Washington, DC 20230 · (202) 482-3809

    Your message has been successfully submitted and would be delivered to recipients shortly.