Broken State Budget Systems Hurt Tourism Industry
In his “On My Mind” column, Leisure Group Travel publisher Jeff Gayduk, points to the budget crises facing many states, contending that “tourism is the piggy bank that’s being raided to pay for years of mismanagement and misappropriation.” Tourism tax dollars, he says, are being diverted for other purposes, thus undercutting the travel industry. This broken system means that funds for tourism promotion are drying up. With lack of promotion, “fewer people are inclined to travel,...
Read MoreTravel Spending Growth Outpaces Economy in General
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...
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