Tourism employment and spending grow, other signs indicate slowing

by Contributor

The U.S. Travel Industry added more than 9,000 jobs in July, the most in the last four months, according to the most recent issue of U.S. Travel Outlook. Travel jobs have accounted for six percent of all new U.S. non-farm jobs so far in 2012.

Despite positive job growth and an increase in wages, U.S. consumers reduced spending for the second straight month in June. While savings rates are at the highest level in a year (4.4 percent in June versus 4.0 percent in May), retails sales are experiencing the longest period of decline since 2008. Due to decreased spending, the economy grew at only 1.5 percent during the second quarter, less than the two percent growth seen during the first quarter of the year.

Consumer confidence reports are mixed. The Conference Board reports a gain in the share of consumers who anticipate better labor and economic conditions in the next six months. However, the Consumer Sentiment Index decreased in July from June, with survey responses reporting that consumers do not expect that current economic policies will be capable of solving the problems that face the economy.

Positive news is that recent data from Harris Interactive shows that Americans are going on vacation despite economic concerns. More than two in five U.S. adults say the economy does not have any impact on their travel plans. Sixty percent of adults plan at least one leisure trip through August, and more than fifteen percent planning to travel for leisure more than three times this summer. Harris also reports a large increase in anticipated travel spend in 2012.

The U.S. lodging industry continues to post positive results. According to the American Hotel & Lodging Association President & CEO Joe McInerney, ?After a long downturn, in 2011, the lodging industry turned the corner.? Performance continues to be strong into 2012. June data from Smith Travel Research reported that U.S. lodging demand increased at nearly five percent, and RevPAR was up nearly ten percent. In North Carolina, demand in June was up 5.3 percent and RevPAR was up nine percent. The outlook for lodging for the rest of the year remains positive as well. For this and additional lodging reports in North Carolina, click here.

The international market is showing renewed strength says the U.S. Travel Outlook. According to the U.S. Dept. of Commerce, international visitors spent an estimated $13.9 billion on travel to the U.S. in May 2012, eight percent higher than in May 2011. This was the 29th consecutive month of growth. International travel to N.C. continues to grow as well. N.C. international data for 2011 can be viewed here. The Chinese market continues to be the hot topic. Travel to the U.S. from China is up nearly 50 percent through April and between 2010 and 2020, the number of visitors from China is expected to increase by 151 percent.

North Carolina sees approximately 25,000 visitors from China each year who spend over $18 million in the state. Chinese visitors to the state spend nearly one-fourth of their total spending on lodging ? and spend more in clothing, jewelry, department stores and retail in general than most other countries of origin. In terms of spending per visitor, visitors from China spend the most with an average of $737 per visitor, up from $698 per visitor in 2010.

Source: http://www.topsailnewsonline.com/?p=4447

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