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February 28, 2008

Survey: Tourism businesses saw profits rise

Profits increased last year for some Maine tourism businesses, but so did operating expenses, according to survey results released this week by the Maine Tourism Association.

The trade group sent the survey last October and November to its roughly 1,600 members statewide. Of the 192 that responded, roughly 36% said profits increased from 2006 to 2007, 74% said operating expenses increased during that period and 86% said they invested in improvements during the year.

A strong Canadian dollar boosted some businesses, but high gas prices and overall lower consumer spending harmed sales for others, according to the survey results.

The survey was conducted for the trade group by research firm ARCO Global. Read the survey results here.

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