Total Revenue for Travel Agencies, All Establishments, Employer Firms
This dataset tracks total revenue for travel agencies, all establishments, employer firms over time.
Latest Value
35264.00
Year-over-Year Change
188.98%
Date Range
1/1/1998 - 1/1/2022
Summary
The 'Total Revenue for Travel Agencies, All Establishments, Employer Firms' series tracks the total revenue generated by travel agencies across the United States. This key metric provides insights into the overall health and performance of the travel industry.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This economic indicator represents the aggregated revenue of all travel agencies, including both employer firms and self-employed individuals. It is a valuable data point for analyzing trends in consumer travel, as well as the broader economic impact of the tourism and hospitality sectors.
Methodology
The data is collected through surveys of businesses by the U.S. Census Bureau.
Historical Context
Policymakers and industry analysts closely monitor this trend to assess the travel sector's contribution to the overall economy.
Key Facts
- Travel agencies generate over $200 billion in annual revenue.
- The travel industry accounts for approximately 3% of the U.S. GDP.
- Online travel booking platforms have disrupted the traditional travel agency model.
FAQs
Q: What does this economic trend measure?
A: The 'Total Revenue for Travel Agencies, All Establishments, Employer Firms' series tracks the aggregated revenue generated by travel agencies across the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the overall health and performance of the travel industry, which is a significant contributor to the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts closely monitor this trend to assess the travel sector's contribution to the overall economy and make informed decisions.
Q: Are there update delays or limitations?
A: The data is published on a regular basis, but there may be some delays in the release of the latest information.
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Citation
U.S. Federal Reserve, Total Revenue for Travel Agencies, All Establishments, Employer Firms (REVEF56151ALLEST), retrieved from FRED.