FOR IMMEDIATE RELEASE
CONTACT: Monica Hill, 202-482-3809
January 3, 2001
Commerce Department to Provide
More Comprehensive Data
on Economic Clout of Travel
and Tourism
Washington, D.C.-- The Commerce
Department announced today that it has received $200,000 in U.S.
Government funding to more accurately track the growing economic
impact of travel and tourism on the U.S. economy.
"Tourism's contributions to American prosperity have not been fully
appreciated due to a lack of comprehensive data and statistics,"
said Leslie R. Doggett, Deputy Assistant Secretary for Tourism Industries
at the U.S. Department of Commerce. "This funding will help jumpstart
the federal government's ability to gauge and assist the services
sector, which has emerged in the last decade as a dominant force
in the U.S. economy."
At the local level, the data will allow communities, visitor bureaus,
and entrepreneurs to better promote economic growth and investment
in tourism-related projects. Additionally, this funding will enable
the Bureau of Economic Analysis (BEA) to compensate a staff member
and the necessary computer resources to provide a more timely and
accurate update of the 1998 pilot program for the Travel and Tourism
Satellite Accounts. Data from satellite accounts correlates the
purchases of tourism goods and services with the output of the tourism
industries that produce them. Satellite accounts will allow travel
and tourism growth to be more accurately measured and compared to
other major industries, helping define the industry's contribution
to the gross domestic product (GDP).
"Funding for the satellite accounts for
travel and tourism is also significant because it can serve as a
leadership model for accountability in other elusive service sectors
such as Entertainment, Education and Training, and Financial Services,"
Doggett added.
Travel and tourism is a key contributor
to the growth of the services sector and the overall health of the
U.S. economy. In the eight years of the Clinton Administration,
tourism has generated $3.7 trillion dollars in expenditures, $622
billion dollars in state, local, and federal taxes, and $157 billion
in trade surpluses. It has supported over 57.5 million jobs, with
employment growing faster in the tourism sector than employment
in the overall economy. Outpacing average growth of the nation's
Gross Domestic Product (GDP), travel and tourism accounts for one-third
of the trade surplus in the services sector.
The appropriation is an outgrowth of a 1995
White House Conference on Travel and Tourism in which tourism interests
called for more accurate measures of their contributions to the
U.S. economy. Department of Commerce delivered a prototype of the
accounts in July 1998, and President Clinton included requests for
permanent funding of the program in budget proposals in 1998 and
1999, before finally receiving Appropriations approval December
15, 2000 for FY2001.
Authorization of funding is contained in Section 205 of H12260,
as noted in the Congressional Record of December 15, 2000. Commerce's
Bureau of Economic Analysis (BEA) has the responsibility for configuration
of the accounts.
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