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Tourism up but inflation on horizon
Some recent state and national numbers show the tourism industry is rebounding, reported The Arizona Business Journal.
But the report added:
“However, the sector — like the overall economy — faces challenges related to high gas prices, inflation and international unease.”
Tourism and tax revenue numbers for the first half of 2004 show the sector is doing well.
The report also cited a new study from American Express Co. that shows an improved business travel climate is on the short-term horizon.
“Still, economists and tourism industry officials are watching rising gasoline costs, other inflation and the international situation very carefully,” said the Journal.
Arizona, in common with some other US states, sees tourism as one of its top industries, generating $7.2 billion in economic impact during the first two quarters of 2004.
Report by David Wilkening
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