Tourism Pays

National Travel and Tourism Week 2019 | Travel Matters from U.S. Travel on Vimeo.

The Importance of Tourism

• The Pikes Peak Region welcomed 24.8 million visitors in 2023
• These visitors spent a total of $2.9 billion
• Travel and tourism bring more than $7.9 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 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