Advanced Search
MyIDEAS: Login

Travel and tourism : an overlooked industry in the U.S. and Tenth District

Contents:

Author Info

  • Chad Wilkerson

Abstract

With the onset of recession in early 2001, the U.S. travel and tourism industry fell into its worst slump since World War II. The September 11 terrorist attacks and subsequent tightening of airport restrictions dealt the industry an unprecedented blow. Many travel destinations continued to suffer in 2002 and early 2003 from a declining stock market, sluggish economic recovery, and war in Iraq. Prior to these recent difficulties, however, travel and tourism’s role in the national economy had been rising steadily for decades.> As in the nation, the travel and tourism industry has become increasingly important in the Tenth Federal Reserve District. Indeed, by the late 1990s, the industry contributed more to gross output in the district than either agriculture or oil and gas extraction, the region’s defining industries for much of the 20th century. Travel and tourism is especially important in the district’s Rocky Mountain states, which are home to popular vacation spots like Yellowstone National Park, Santa Fe, and the Colorado ski resorts, as well as Denver, a top business travel destination.> Wilkerson compares and contrasts travel activity in the nation and Tenth District. He shows that national travel and tourism activity generally grows rapidly during economic expansions but slows during recessions. In the district, the effect of recessions on the industry is much less than in the nation, due largely to the different types of travelers the region attracts. At the same time, many travel destinations in the district are susceptible to other types of shocks, such as wildfires or inadequate snowfall, which can disrupt local activity.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.kansascityfed.org/Publicat/econrev/Pdf/3q0wilk.pdf
Our checks indicate that this address may not be valid because: 404 Not Found. If this is indeed the case, please notify (LDayrit)
Download Restriction: no

Bibliographic Info

Article provided by Federal Reserve Bank of Kansas City in its journal Economic Review.

Volume (Year): (2003)
Issue (Month): Q III ()
Pages: 45-72

as in new window
Handle: RePEc:fip:fedker:y:2003:i:qiii:p:45-72:n:v.88.no.3

Contact details of provider:
Postal: One Memorial Drive, Kansas City, MO 64198
Phone: (816) 881-2254
Web page: http://www.kansascityfed.org
More information through EDIRC

Order Information:
Email:

Related research

Keywords: Tourism;

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:fip:fedker:y:2003:i:qiii:p:45-72:n:v.88.no.3. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (LDayrit).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.