The Labor Department’s 2012 report on consumer spending confirmed the recent recession forced consumers to alter the typical lifestyle spending habits. It’s apparent from the available consumer expenditure data that changes in the spending behavior for travelers dining choices continued beyond several years into the recovery period. In fact, the recorded decrease in food expenditures, from December 2007 to June 2009, was the largest inflation-adjusted amount ever recorded by the Bureau of Labor Statistics (BLS) since 1984. The increase in unemployment to 9.3% in 2009 was another important attribute of the consumers’ reduced spending levels during this recessionary period. According to the Food Expenditure Tables and the consumer Expenditure Survey U.S. household spending on food declined 5% between 2006 and 2009.
Academic and Business Research Institute International Conference (AABRI)
New Orleans, LA
Furr, H. Leslie, Mark A. Bonn, John Peden.
"The Impact of the Recent Recession Upon Tourism Behavior."
Management Faculty Presentations.