for Colorado Springs & the Pikes Peak Region
2016 National Travel & Tourism Week Rally in Colorado Springs
Click here for more details on how tourism pays for the Pikes Peak region.
The Importance of Tourism
- These visitors spend a total of $1.35 billion in our region, resulting in over $56 million in local tax receipts annually
- Travel & tourism pumps over $43 per second into the local economy
- Tax revenue from tourism saves each family of four $340 in taxes
- The Colorado Springs CVB inspires and assists visitors resulting in an estimated direct economic impact of more than $187 million
- Every dollar the CVB spends returns $60 to the regional economy
- Tourism is the 3rd largest employer in the Pikes Peak region, providing more than 17,000 jobs to residents generating $474 million in earnings
Cutting Tourism Promotional Spending is Risky
- When tourism promotional spending is cut, there is a loss of direct spending as well as a loss of jobs, reduced wages and reduced tax collections
- The impact of cutting tourism spending can be seen by studying the Colorado experience of 1993-1997, when the tourism promotion budget was reduced to zero
- The critical question is "how many lost visitors does it take to negate the savings of a reduced or eliminated promotional budget?"
- According to the Colorado study, the answer is less than 1%. It takes only a 1% reduction in visitation to completely negate the savings of reduced promotional spending
- For more information on the importance of tourism and our national economy please visit, TravelEffect.com
Congrats Hailey F!
Enter to Win Two Denver Broncos Tickets for the 2016 Regular Season!
1) Pick a statistic from this page
2) Email the fact to Media @ visitcos.com by 4pm, Saturday, May 7
Restrictions: Must be 18 years of age to enter. Claim within 72 hours or another winner will be chosen. No cash value. Winner will be chosen by MAy 11, 2016.