BEA News: Travel and Tourism Satellite Accounts, 1st quarter 2012

The U.S. Bureau of Economic Analysis (BEA) has issued the following news release today:

Real spending on travel and tourism increased at an annual rate of 3.4 percent in the first quarter of 2012 after increasing 4.4 percent (revised) in the fourth quarter of 2011. By comparison, growth in real gross domestic product (GDP) increased 1.9 percent (second estimate) in the first quarter after increasing 3.0 percent in the fourth quarter. The increase in real spending on tourism primarily reflected increases in traveler accommodations and in food services and drinking places.

The full text of the release on BEA's Web site can be found at www.bea.gov/newsreleases/industry/tourism/tournewsrelease.htm

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