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July
24
24
5 Reasons Why Tourism in Colorado Springs Makes a Positive Impact
- Stimulates Economic Growth - In 2022, the Pikes Peak Region attracted 24 million visitors, who spent a total of $2.8 billion. Overnight visitors typically stay in hotels and rent cars, contributing to our local Lodgers and Automobile Rental Tax (LART). Revenue from LART is reinvested into the community and used for tourism promotion, further boosting visitation and economic impact. Visitors also spend on recreation, entertainment, shopping, accommodations, and dining.
- Creates Job Opportunities - Before the pandemic in 2019, travel spending directly supported 187,800 jobs in Colorado, making it the state's fourth-largest employment sector. According to U.S. Travel, the travel industry employs roughly 8 million American workers but still has 2 million job openings. There are significant opportunities for hiring to ensure the industry's future growth and success.
- Inspires New Businesses - Visitors boost the local economy and inspire the openings of new businesses. During the pandemic, the decline in visitors was strongly felt, with many shops and restaurants forced to close temporarily or permanently. Businesses depend on travel and tourism to stay open and to grow. Many new business ideas come from people who have relocated to the area after visiting first as tourists.
- Elevates the Quality of Life for Residents - There's a quote from tourism industry leader Maura Gast: "If you build a place people want to visit, you'll build a place people want to live. If you build a place people want to live, you'll build a place people want to work. If you build a place people want to work, you'll build a place where business has to be. And if you build a place business has to be, we'll be back to building a place people want to visit." This "circle of tourism" highlights the impact of visitors on economic vitality. Visitors help support the aspects of our community that residents cherish the most.
- Cultivates Vibrant Communities - Consider what makes you love where you live. It's usually the fun places to explore, the people you meet, the new restaurants and shops to visit, and the variety of entertainment options. Visitors play a significant role in supporting this community vibrancy. In Pikes Peak Region, 32% of overnight visitors come to see friends and family. When residents host their guests, they often take them to local restaurants, trails, parks, and shops. This economic activity, along with the LART funding, allows the community to support more local events and activities.
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