Travel Spending Growth Outpaces Economy in General

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The U.S. Department of Commerce just announced that real spending (adjusted for changes in price) on travel and tourism increased at an annual rate of 3.9 percent in the first quarter of 2010, following a decrease of 1.5 percent (revised) in the fourth quarter of 2009. By comparison, real gross domestic product (GDP) increased 2.7 percent in the first quarter of this year after increasing 5.6 percent in the fourth quarter of last year. •    Real Tourism Spending. Real spending on traveler...