This new project is recommended in the National Strategy established during the White House Conference on Travel and
Tourism as well as specified in the Federal Tourism Strategy from the Tourism Policy Council (TPC). The government has been
asked to define the scope of the travel and tourism industry.
Because travel and tourism is not a single industry producing a single product, it cannot be measured in its true form by a
singular SIC code. Also, it is demand driven and is comprised of services industries, so it does not fit well into the new
NAICS which is still manufacturing based in its criteria. A TTSA is the economic solution.
A Travel and Tourism Satellite Account (TTSA) is an economic tool to more accurately measure the impact of the travel and
tourism industries on the U.S. economy. It also measures job creation and provides industry comparability by using the U.S.
System of National Accounts, which is the basis for configuring the GDP.
In technical terms, a Travel and Tourism Satellite Account (TTSA) provides a framework for integrating tourism activities
in a way that is consistent with the U.S. System of National Accounts. Tourism purchases of goods and services (DEMAND) are linked to the outputs
of the industries that produce those goods and services (SUPPLY).
