NEW YORK? The Travel Business Roundtable Index of Leading Economic Indicators had its fifth consecutive monthly increase in May. According to Dr. James Howell, chief economist and creator of the TBR Index, the TBR quantifies separate industry growth rates into one number for travel and tourism on a monthly basis. ?The travel and tourism industry is one of the major contributors to the growth rate of the overall US economy,? Howell said. In the past several months the TBR rate of increase was strong and spread throughout many of the key sectors of the index. The strongest growth indicator was the 11% increase in hotel motel revenue. The second was consumer confidence which drives discretionary spending. In addition ?hotel motel room occupancy rates have been flat because supply has kept up with or exceeded the market demand,? said Howell. Eight out of the nine TBR indicators had increases including: ARC total sales; ATA revenue passenger miles; hotel/ motel revenue index; hotel/motel occupancy rate; retail sales at eating and drinking establishments; personal consumption expenditures for travel and related services; travel and tourism employment; and consumer confidence. There was a decline in rental car price per day.
Previous ArticleBass Names Hartman To Head Asia/Pacific Region
Next Article Banks Challenge Wall Street As Funding Source