US Tourism Dec 2010

US Tourism Dec 2010 - Industry Report Hospitality Tourism...

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http://webreports.mergent.com Industry Report - Hospitality & Tourism - December 2010 A Company and Industry Analysis December 2010 CONTENTS Current Environment – US • Sector Overview • Sector Performance • Leading Players • Mergers and Acquisitions Current Environment – Canada • Sector Overview • Sector Performance • Leading Players • Mergers and Acquisitions Industry Profle – US • Industry Size and Value • Inbound Travel • Outbound Travel • Sector Employment • Industry Focus • Policy and Regulatory Environment Industry Profle – Canada • Industry Size and Value • Domestic Travel • Inbound Travel • Outbound Travel • Sector Employment • Government Investment Market Trends and Outlook – US • Business Travel Slowly Rebounds • Internet Bookings Continue to Rise • Market Outlook Market Trends and Outlook – Canada • Taxes Threaten Canada’s Tourism Industry • Winter Olympics Fueled Travel Surge to Canada • Market Outlook Currency Conversion Table The Scope of this Report Key References Comparative Data Reports Coverage Current Environment – Key Points • The travel industry enjoyed some modest improvement this year after a very dif±cult recessionary period, with real travel and tourism GDP up 1.6% in the second quarter of 2010 after growing 3.7% in the ±rst quarter. • With a rebound in travel spending, leading industry players in the US started to report more favorable ±nancial results in the second and third quarters of 2010. • In the six months ended August 31, the Dow Jones US Travel and Leisure Index climbed 5.92% to 361.88 points, while the Dow Jones US Travel and Tourism Index rose 10.62% to 139.64 on August 31. • Thanks to the strong performance of the Canadian economy in the ±rst half of 2010, Canadians began to break away from the “staycation” trend (vacations spent at home). • Most hospitality and tourism stocks recovered from a precipitous fall in 2008 and throughout the ±rst half of 2009, with leading hospitality and tourism ±rms in Canada reporting an increase of 11.32% in share price over the six months ended August 31. Industry Profle – Key Points • The Of±ce of Travel and Tourism Industries estimates the US travel and tourism industry makes approximately US$1.3 trillion for the US economy every year; however, the industry made US$100 billion less in 2009, compared with the 2008 ±gure — by far the single largest contraction the industry has undergone. • The US Customs and Border Protection announced an interim ±nal rule that amends Department of Homeland Security regulations to require travelers from Visa Waiver Program countries to pay operational and travel promotion fees when applying for an Electronic System for Travel Authorization.
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US Tourism Dec 2010 - Industry Report Hospitality Tourism...

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