National Travel and Tourism Week 2019 | Travel Matters from U.S. Travel on Vimeo.
The Importance of Tourism
- The Pikes Peak Region welcomed 23.7 million visitors in 2021
- These visitors spent a total of $2.6 billion
- Travel and tourism bring more than $7 million per day into the local economy
- Tourism is the 3rd largest employer in the Pikes Peak Region, providing more than 20,000 jobs
2021 Visit COS Performance Report
2021 Tourism Pays Infographic
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