Tourism Sales Grow at 5.1% Rate in 3rd Quarter

The U.S. tourism industry grew at an annualized rate of 5.1% in the third quarter, although travelers’ aversion to higher air fares weighed on growth, the government said.

The Commerce Department said total tourism sales in the third quarter rose to $1.04 trillion from a revised $1.03 trillion in the second quarter. Hotels, air fares and souvenirs -- or direct tourism sales -- accounted for $596 billion of the total.

Rising gasoline prices contributed to the increase, the department said, with sales of retail gasoline swelling by 71.2% from the previous quarter to $28.49 billion.