Gas Prices Aren't Deterring Vacationers
Economists and Other Experts Say High Energy Prices Aren't Deterring Americans From Traveling
Vacationers coping with surging energy prices this summer could take shorter trips or pass up that extra souvenir or fancy dinner. But most people do not seem to be cutting back dramatically on their spending or skipping holiday travel altogether.
That helps explain why the tourism business in the United States is holding up well, industry experts and economists suggest. A recent survey by the Federal Reserve found that reports from the tourism and hospitality sectors were mostly positive. Tourism was "exceptionally strong" in New York City. Atlanta, St. Louis and San Francisco all saw brisk activity.
Money spent on air fares, lodging, dining, souvenirs and other tourism components rose to $571.3 billion, at a seasonally adjusted annual rate, in the first three months of 2005.
External Source - For the complete article click here
Source - AP
That helps explain why the tourism business in the United States is holding up well, industry experts and economists suggest. A recent survey by the Federal Reserve found that reports from the tourism and hospitality sectors were mostly positive. Tourism was "exceptionally strong" in New York City. Atlanta, St. Louis and San Francisco all saw brisk activity.
Money spent on air fares, lodging, dining, souvenirs and other tourism components rose to $571.3 billion, at a seasonally adjusted annual rate, in the first three months of 2005.
External Source - For the complete article click here
Source - AP
