ITA Trade Administration : U.S. Travel and Tourism Records Increases in Spending and Job Growth During Third Quarter 2015

For Immediate Release: January 4, 2016
Contact: Mary Trupo [phone]

WASHINGTON - U.S. Under Secretary of Commerce for International Trade Stefan M. Selig today announced that real spending (output) on travel and tourism increased at an annual rate of 4.3 percent during the third quarter of 2015. This increase continued a positive trend for this critical industry sector following an 8.4 percent upswing in spending during the second quarter. In addition, today's release shows that employment growth also accelerated in the sector, increasing 2.2 percent during the third quarter.

'After 22 consecutive quarters of job growth, the travel and tourism industry has added more than 1.1 million U.S. jobs that were previously lost during the global economic slowdown,' Under Secretary Selig said. 'More than eight million U.S. jobs now depend on the continued success of travel and tourism-an industry that produces nearly $1.6 trillion a year of economic output for the U.S. economy.'

Additionally, the release indicated that prices of travel and tourism goods decreased by 0.3 percent in the third quarter following an increase of 0.5 percent in the second quarter. This downturn was mainly attributable to decreases in 'all other transportation-related commodities', which include gasoline, travel arrangements and reservation services, and automotive rentals.

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International Trade Administration

The International Trade Administration (ITA) is the premier resource for American companies competing in the global marketplace. ITA has 2,200 employees assisting U.S. exporters in more than 100 U.S. cities and 75 markets worldwide. For more information on ITA visitwww.trade.gov.