Federal Reserve: Tourism Continues to Grow as Canadian Spending Declines
The Federal Reserve's Beige Book report stated that tourism continued to grow, but three districts recorded a decline in sales to Canadian visitors.
The Beige Book report issued by the US Federal Reserve Board stated that tourism continued to grow, based on information collected through October 5.
The Boston, Minneapolis, and San Francisco districts recorded a decline in sales to Canadian visitors, according to the report published in October 2026.
The Richmond district noted strong hotel occupancy, while Boston reported higher tourism spending offset by weakness in retail sales.
More than half of the districts said consumer spending was driven primarily by high-income households, a trend also highlighted in the report.
What do these terms mean?
Beige Book: A periodic report published by the Federal Reserve that gathers observations from businesses in various US districts regarding the state of the economy.
Federal Reserve: The US central bank responsible for monetary policy and interest rates.
Hotel occupancy rate: The ratio of occupied rooms to total available rooms in a hotel during a given period.
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