Travel industry recovery faster than the rest of the economy

The recession that began in the USA in December 2007 ended in June of last year, according to the organization that determines official benchmarks.

The travel industry seems to be snapping back faster than the rest of the economy, with business travel fueling much of the increase. Spending on airplane seats, hotel rooms and rental cars jumped in the second quarter. Employment in the sector, such as hotel maids and travel agents, rose 2.2% in the same period. The next few weeks will be a key test as big hotel chains negotiate corporate rates for the coming year.