SLO County tourist spending soars to $2 billion annually
– Visit SLO CAL, the countywide Destination Marketing and Management Organization for San Luis Obispo County, announced this year that tourism has soared to a record-breaking $2.15 billion in direct travel spending impact in SLO CAL (San Luis Obispo County), underscoring the massive impact that tourism contributes in the region. This represents a remarkable 13.8 percent increase in year-over-year numbers and a 6 percent increase from 2019, the previous record high ($2.02 billion).
In 2022, SLO CAL welcomed 7.47 million visitors, nearly 2019 levels, meaning visitors spent more money during their trips.
“We are ecstatic to share the news of our record-breaking year for tourism,” said Chuck Davison, President and CEO of Visit SLO CAL. “Tourism is the number two economic driver in the region, second only to agriculture. Travel impacts every sector of business and supports local economies across the globe, including right here in SLO CAL. Visitors support numerous sectors across SLO CAL including accommodations, transportation, food and beverage, attractions, retail and more. Between the taxes tourism generates and the local businesses it supports, tourism plays an important role in positively contributing to the quality of life for our residents.”
In 2022, tourism provided $116 million in local tax revenue, which aids essential services in the community. Without the tax generated by tourism, each local household would need to pay an additional $1,929 in taxes to maintain a similar level of community support. Furthermore, each household would need to spend an additional $20,152 to create the same economic impact for local businesses.
Other notable metrics achieved in 2022 include:
- SLO CAL’s tourism industry earnings (total after-tax net income for travel including wages and salary disbursements) $865 million. This is an increase of 16.9 percent year over year as well as an increase of 6.13 percent from 2019.
- Tourism comprises 9.78% of SLO CAL’s countywide GDP.
- Tourism contributes $62.7 million in transient occupancy tax revenue, which was a 6.3 percent increase year over year.
The news comes as the nation celebrates U.S. Travel Association’s National Travel and Tourism Week (NTTW) May 8-12. Now in its 40th year, the annual tradition recognizes the essential role travel plays in stimulating economic growth, cultivating vibrant communities, creating quality job opportunities, inspiring new businesses, and elevating the quality of life for Americans every day. Marking a 15 percent year-over-year increase, tourism puts over 22,000 residents to work each day in SLO CAL, including lodging, food service, arts, entertainment, recreation, ground transportation, wineries, breweries, distilleries, and more.
“Visit SLO CAL recently commissioned a resident survey to gauge the sentiment of tourism,” continued Davison. “Findings will be released in June, but early reports show that more than two-thirds of residents say that tourism makes the community a better place to live. This study shows locals are more educated than originally thought about the positive impact tourism plays on our region, the dollars it injects into our county and city coffers and its broader significance across the community.”
See the original report here: https://www.slocal.com/articles/post/slo-cals-tourism-industry-soared-and-visitor-spending-surged-to-an-unprecedented-215-billion-2022/
Comments
