Is the first chart (tourist spending) in nominal dollars? Given the labour intensity in the tourism sector, plus shortages as we emerged from COVID, it is likely that the spending increase is a price factor rather than a shift in actual consumption patterns?
Is the first chart (tourist spending) in nominal dollars? Given the labour intensity in the tourism sector, plus shortages as we emerged from COVID, it is likely that the spending increase is a price factor rather than a shift in actual consumption patterns?
Yes that's right