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What Staycation?
Written by Betsy
Monday, 07 February 2011 12:09

Earlier this month, the U.S. Department of Commerce announced that real U.S. travel and tourism output (adjusted for changes in price) increased at an annual rate of 8% during the third quarter of 2010. This marks the largest quarterly increase in U.S. travel and tourism spending since the first quarter of 2004 and is nearly triple the growth rate of U.S. GDP during the same period. With the rampant “Staycation” buzz emerging in early 2009 and continuing into 2010, some industry experts have struggled to identify the drivers behind this growth.  What happened: U.S. and international travelers took advantage of airfare and lodging deals brought on by the recession and, in some cases, may have traded down by choosing U.S. destinations over more exotic locales.

This is not to say that international travelers see the U.S. as a budget destination, but certainly, the deals seen over the past 18 months have allowed for both longer stays and more locations visited. Is this sustainable? Beyond travel and tourism, will other industries benefit? The Office of Travel and Tourism Industries suggests that it is not only sustainable but, according to Undersecretary of Commerce for International Trade, Francisco Sanchez, this boost could positively impact the National Export Initiative (Press Release). Kairos Consumers continues to explore this correlation between exports and tourism in markets worldwide.

Last Updated on Monday, 07 February 2011 12:19