Project Main Details
• Phone Patch
But you might not be aware how much of this has been made possible by visitors – travelers who find our city a more popular place to visit than ever.
In fact, when you are sitting in an Over-the-River, Fountain Square or river front restaurant, it is likely that nearly 50% of your fellow diners are visitors.
Be it leisure visitors who come to the day at one of our great attractions… business travelers who come here for sales calls… or convention attendees who spend several days here learning more about their trade…
The bottom line is that the convention and visitors industry is one of our region’s major economic engines.
Most leisure travelers come from nearby cities, typically on weekends through the summer and holidays.
Business travelers come from visit during the workweek throughout the year. They come from all over the US and other countries.
In total, 24 million visitors come to our city’s region each year.
These visitors inject 4.4 billion new dollars directly into our economy.
They spend half of it on places to eat and sleep, the rest on shopping, transportation, shows and more.
All of this new money has a ripple effect. The initial direct spending is re-circulated to other local businesses as they buy from their vendors and pay employees who in turn buy more goods and services. And so it goes.
74,000 jobs are supported by this new money. That’s one in every 14 jobs and more than financial, construction and information technology.
In terms of tax revenue, these dollars save each household more than $600 annually.
That’s money residents don’t have to pay for critical city and county services, like police and fire protection or street maintenance.
Plus, visitors add an overall vibrancy to the city. A vibrancy that attracts people and businesses to move here.
More importantly, all the new restaurants, shops, sports and events may never have been developed in the first place, nor will they survive, without the influx of visitors who come in large groups for conventions.
Convention attendees typically spend about $100 per day than other travelers, and they stay longer.
Essentially, it takes 3 leisure visitors to equal the value of just 1 conventioneer.
And the larger conventions bring thousands of them. They spill out into the city injecting millions of dollars into our local economy. This is the extra customer traffic many businesses need to stay open through the week and during seasonal slow periods...
As the top chef in the city describes:
According to US Bureau of Labor and Statistics, a 44% growth in conventions and events is expected by 2020, far beyond the average growth of other business sectors.
So while our current 24 million visitors with their 4.4 billion dollar economic impact are vital today to our city’s financial stability, there is also tremendous upside potential.
Please help us spread the word about our regional convention and visitors industry. Together we can protect and grow the infrastructure and attractions that will continue to bring travelers to our city for many years to come.
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