The travel industry is recovering from its slump much faster than the rest of the economy. According to the WSJ, while the economy as a whole only saw an increase of 1.6%, spending on airplane travel, hotel rooms and car rental grew 3% at an inflation adjusted annual rate in the second quarter. Hotel occupancy rose 5%; spending on air transportation rose 3.9% for same period. The recovery is also felt in other sectors such as resorts and national parts. The number of visitors to Acadia rose 13% compared to last year. It is worth noticing that employment in travel and tourism rose 2.2% in the second quarter, making the first increase after eight straight periods of decline. A full article can be found here.
Have a relaxing fall break! :-)
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