The Economic Impact of Tourism in the NACOG Region

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Presentation transcript:

The Economic Impact of Tourism in the NACOG Region Prepared by: Don Prince, Research Sub-Committee NACOG Tourism Committee

Arizona Tourism Overview Economic Impact in 2014 40.7 Million Overnight Visitors $20.9 Billion in Direct Spending 171,500 Jobs directly generated by traveler spending $2.8 Billion (Direct): Local, State and Federal Taxes generated from traveler spending in Arizona. $1,150 tax break per Arizona household

Ranking of Travel & Tourism compared to other Export-Oriented Industries in Arizona

Arizona Travel Market Share Compared to the U.S. Arizona’s Market Share between 2007-2014 has resulted in a cumulative loss in Travel and Tourism spending of $1.4 billion. $325 million cumulative loss in potential employment earnings. 10,000: cumulative loss in potential industry jobs. $160 million: cumulative potential loss in federal, state and local tax revenue. Why?: Arizona eliminated formula funding for Tourism and reduced the budget by more than 50% since 2008 even as competitors increased tourism funding.

Apache County Total Direct Travel Spending 1998-2014 Source: Dean Runyan & Associates

Apache County Local Tax Receipts from Tourism 1998-2014 Source: Dean Runyan & Associates

Apache County Total Direct Employment 1998-2014

Coconino County Total Direct Travel Spending 1998-2014 Source: Dean Runyan & Associates

Coconino County Local Tax Receipts from Tourism 1998-2013 Source: Dean Runyan & Associates

Coconino County Total Direct Employment 1998 - 2014 Source: Dean Runyan & Associates

Navajo County Total Direct Travel Spending 1998-2014 Source: Dean Runyan & Associates

Navajo County Local Tax Receipts from Tourism 1998-2014 Source: Dean Runyan & Associates

Navajo County Total Direct Employment 1998-2014 Source: Dean Runyan & Associates

Yavapai County Total Direct Travel Spending 1998-2014 Source: Dean Runyan & Associates

Yavapai County Local Tax Receipts from Tourism 1998-2014 Source: Dean Runyan & Associates

Yavapai County Total Direct Employment 1998 - 2014 Source: Dean Runyan & Associates

Travel Impacts by Legislative District

Travel Impacts by Legislative District

Travel Impacts by Legislative District

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