WASHINGTON (August 16, 2018)—The U.S. Travel Association this week released an in-depth report detailing travel and tourism’s indispensable role in states’ and communities’ economic health.
Entitled “Manufactured in America: Travel’s Essential Contribution to Economic Development,” the 50-page report utilizes case studies and economic data to teach policymakers and the general public concerning the critical dependence on sustained efforts to market their jurisdictions as travel destinations.
While the report delivers a confident message, its findings warn that the financial toll for America’s communities could be devastating when tourism dollars stop flowing in.
The report also looks to the private sector for lessons on the significance of marketing—including why large companies like Comcast, P&G, and GM think it is vital that you continue heavy investments in advertising even though their brands are universally known.
“We’ve seen it over and over: when jurisdictions stop investing money on tourism promotion, traveler volume slows, and the economic loss can be extremely painful,” said U.S. Travel CEO and President Roger Dow. “Even though they learn a hardcore lesson and flip the funding switch back on, normally it takes years to recuperate their previous market share.
“Misguided decisions to cut or eliminate investment in tourism promotion usually leads to regret, accompanied by reversal. The bad experiences of other jurisdictions should serve as a cautionary tale—slashing marketing costs visitors, which costs their spending, which costs tax revenue. The results is always the contrary of the intended ‘savings almost.'”
Without the $165 billion travel generates annually altogether tax revenue, each U.S. household would need to pay $1,year 300 more in taxes every, in line with the report.
That $165 billion compatible:
· The salaries of most 320,000 state and local firefighters and 662,000 state and local cops over the U.S. combined.
· The salaries of most one million public senior high school teachers in the us.
· Fifty-eight percent of state and local governments’ capital shelling out for transportation and water infrastructure nationwide.
· The expense of educating 5.6 million of the 50 million students enrolled in secondary and elementary public schools across America.
The full case studies in the report spotlight numerous specific great things about tourism marketing, like the value it brings for rural communities, smaller businesses, crisis management (i.e. recovery from disasters like Hurricane Harvey), bettering standard of living for residents, and much more.
Click here to learn the entire report.