More money was spent on travel during the first part of this year than last year around that time. There was actually a 4.5% increase in spending on air travel from the first quarter of last year. This occurred at the same period when the prices of air travel rose by 13.3 %. . Travelers also spent more on accommodations even though, while the cost of travel accommodations decreased.
Does this translate to more travel for you and your family? Our family has gone on two mini-vacations that were one tank road trips from our home. Each was a long weekend stay at a hotel but fun everyone. For families with kids, travel can be a lot more expensive so we all try to find the best deals, no matter if the economy is going up or down. We tend to travel more when the hotel deals are better. Many hotels and travel destinations offer special deals for residents in the state. Sometimes those deals will extend to residents in neighboring states.
It is positive to that there is more spending on travel, but that does not translate more employment. Although there was increased spending on travel there was a decrease in employment in these areas. Air travel employment saw a 1.4 % decrease and travel accommodations saw a 1.5% decrease in employment.
With the oil spill in the Gulf of Mexico, tourism in the Gulf States is taking a hit. What that will mean for the final tourism data is left to be seen. Although some of the beaches in these areas are affected by the oil spill some still have not be touched. With the oil spill deterring tourists, hotels in these areas are offering more discounts. There are still some fun options and activities for families to enjoy.
But wherever your family decides to travel this summer, or the rest of the year, have fun and I hope you get deep discounts.
Source:BEA