DETROIT, May 16 /PRNewswire-FirstCall/ -- Tourism activity in Michigan increased 4.4 points between the fourth quarter 2004 and first quarter 2005, according to the Michigan Tourism Index compiled by Detroit-based Comerica Bank. The first quarter index, at 129.8, is up 10.7 percent from 117.3 a year earlier.
"Michigan tourism is looking stronger overall, even though people are driving less in reaction to the surge in gasoline prices," according to Dana Johnson chief economist at Comerica Bank. "With the national economy still healthy and gasoline prices off their highs, tourism should strengthen further this summer."
% Chg. 2005Q1 From
2004Q1 2004Q2 2004Q3 2004Q4 2005Q1 2004Q4 2004Q1
Tourism
Index 117.3 116.0 115.1 125.4 129.8 +3.5 +10.7
Occupancy
Index 90.8 97.2 104.1 139.0 129.0 -7.2 +42.1
Airline
Traffic 153.0 158.5 163.8 163.9 164.0 +0.1 +7.2
Vehicular
Traffic 103.5 94.8 94.4 98.8 98.9 +0.1 -4.4
Mackinac
Crossings 141.1 118.8 110.8 129.5 141.8 +9.5 +0.5
Museum 98.3 110.8 102.4 95.8 115.6 +20.7 +17.6
The Michigan Tourism Index is a quarterly summary of five seasonally- adjusted travel and lodging data series which serve as a non-inflationary proxy for statewide tourism activity.
Comerica Bank, the largest bank in Michigan, is a subsidiary of Comerica Incorporated (NYSE:CMA) . Headquartered in Detroit, Comerica is strategically aligned by the Business Bank, Small Business Banking & Personal Financial Services, and Wealth & Institutional Management. Comerica focuses on relationships, and helping businesses and people be successful. Comerica reported total assets of $53.5 billion at March 31, 2005.
CONTACT: Dana Johnson, Senior Vice President and Chief Economist of
Comerica Bank, +1-734-930-2401
NOTE TO EDITORS: Graph of Michigan Tourism Index is available by calling contact.
