Friday, December 14, 2012

Travel Spending, 2005 to 2011

Because of the Great Recession and slow economic recovery, Americans have been less likely to travel and consequently are spending less on it. A new analysis by the Bureau of Labor Statistics shows how much they've cut.

Overall, 29 percent of households spent on travel in 2011, down from 32 percent in 2005. This decline may seem trivial, but as the BLS notes it represents a 10 percent decline in the number of traveling households. Every travel subcategory from airline fares to lodging, restaurant meals, and gasoline on trips, experienced a decline in household spending. The average household spent $1,372 on travel in 2011, down from $1,489 in 2005 after adjusting for inflation. Among the 29 percent of households that spent on travel in 2011, the average amount spent was $4,700.

Source: Bureau of Labor Statistics, Travel Expenditures, 2005-2011: Spending Slows during Recent Recession

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