The Economic Impact of Tourism in Ohio. May 2011

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1 The Economic Impact of Tourism in Ohio May 2011

2 Key themes for 2010 The Ohio visitor economy rebounded in 2010, recovering about 70% of the losses experienced during the recession Visitor volumes expanded 4.5% in 2010, after a 1.6% decline in 2009 Room demand surged. After falling 6.4% in 2009, room demand grew 6.8% in 2010 Per trip spending rose slightly as tourism providers were unable to fully recoup earlier price cuts Visitor spending increased 7.4% in 2010 after a 10.1% decline in 2009 The visitor economy sustained employment of 439,000 FTE jobs in After a 3.3% drop in 2009, visitor economy jobs started to rebound in the latter half of

3 Key results Tourism is a vital component of the Ohio economy The industry signaled its recovery in 2010 with a 7.4% rise in visitor spending to $24.7 billion This spending generated $38.2 billion in total business sales including indirect and induced impacts More than 439,000 jobs, with associated income of $10.2 billion, were sustained by visitors to Ohio last year Approximately 8.7% of all jobs in the state are sustained by visitor spending (up from 8.6% in 2009) Tourism in Ohio generated $1.5 billion in state taxes and $1.1 billion in local taxes in

4 $ Billions Growth in tourism sales Total Tourism Sales % Change 8% 6% 4% 2% 0% -2% -4% -6% The tourism industry rebounded in 2010 with visitor spending increasing 7.4% and total sales (including indirect and induced impacts) increasing 6.9% Business Day % -10% Tourism sales in 2010 made up about 70% of the 2009 losses 4

5 Visitor spending by sector Fin, Ins, RE 4% Other transport 11% Lodging 10% Personal Services 0% F&B 27% Food & beverage, shopping, and recreation comprise more than half of visitor spending in Ohio Gasoline 17% Business Recreation 16% Day Retail Trade 15% Transportation (including service stations) and lodging sectors comprise the majority of the remainder 5

6 Overnight and day markets compared Overnight visits grew by 4.2% with day visits growing by a similar 4.5% in 2010 With overnight per visitor spending growing 4.4%, total overnight spending grew 8.8% Visits and Spend % Change Total Visitors % Overnight % Day % Total Spending (million $) 23,031 24, % Overnight 9,468 10, % Day 13,563 14, % Per Visitor Spending $ 134 $ % Overnight $ 273 $ % Day $ 98 $ % 6

7 Visitor spending by sector Overnight visitors spent close to $10.0 billion in Ohio in 2010 with lodging and transportation expenses as the top spending categories Day visitors spent $14.7 billion with spending for food & beverage as a top spending category Visitor Spending in 2010 $ million Category Overnight Day Total Lodging $ 2,524.4 $ 2, nd home rentals $ $ Local transport $ 2,155.1 $ 4,415.3 $ 6,570.4 Food & beverage $ 1,930.9 $ 4,547.0 $ 6,477.9 Shopping $ 1,083.7 $ 2,592.9 $ 3,676.6 Recreation $ 1,076.1 $ 2,882.4 $ 3,958.5 Air transport $ $ TOTAL $ 10,297.9 $ 14,437.6 $ 24,735.6 Per Visitor Spending $ $ $

8 Visitor spending by market Visitors on marketable leisure trips spent close to $11 billion in 2010 Spending is nearly evenly split between day and overnight visitors Tourism Expenditures in 2010 (US$ Million) Purpose Stay Marketable 10,861 Day 14,438 Visiting Friends/Relatives 9,735 Overnight 10,298 Business 4,139 TOTAL 24,736 24,736 8

9 Percentage distribution Visitor spending by market Visitor spending is nearly evenly divided between day and overnight visitors. Marketable trips led the purpose category with 42% of all visitor spending. 100% 80% 60% Business 17% VFR 39% Overnight 42% 40% 20% Marketable 44% Day 58% 0% Purpose Day / Overnight 9

10 2010 domestic visitor summary Ohio hosted million domestic visitors in 2010, a 4.5% increase from 2009 Day trips represent just over 80% of all visitors with million person trips Ohio hosted 34.8 million overnight visitors last year Visitors to Ohio (Millions) DAY Total Visitors: million OVERNIGHT 34.8 Source: Longwoods International 10

11 Domestic visitor spending Ohio hosted 34.8 million overnight visitors last year, around 20% of all visitors Domestic overnight visitors spent over $10.2 billion in Ohio in 2010 for a spending share of 39% Day visitors spent $14.4 billion in Ohio in 2010 Domestic Visitor Spending vs. Person-Trips All values in millions 100% 80% 60% 40% 20% 0% Day, Overnight, 34.8 Day, $14,437.6 Overnight, $9,092.6 Person Trips Visitor Spending Source : Tourism Economics, Longwoods International 11

12 Tourism sales Tourism Sales (Output) (US$ Million) Direct* Indirect Induced Total 2010 direct sales growth Agriculture, Fishing, Mining Construction and Utilities Manufacturing - 1, ,276.0 Wholesale Trade Air Transport % Other Transport 2, , % Retail Trade 3, , % Gasoline Stations 3, , % Communications Finance, Insurance and Real Estate , , % Business Services - 1, ,234.4 Education and Health Care , ,207.4 Recreation and Entertainment 3, , % Business Day Lodging 2, , % Food & Beverage 6, , % Personal Services Government ,141.6 TOTAL 24, , , , % % change 7.4% 6.2% 5.9% 6.9% * Direct sales includes cost of goods for retail sectors 12

13 F&B Retail Trade Recreation Gasoline Other transport Fin, Ins, RE Lodging Manufacturing Business Svc Edu, Health Government Communications Air Transport Constr, Utilities Tourism sales Tourism Sales by Industry $ million 7,000 6,000 5,000 4,000 Induced Indirect Direct* 3,000 2,000 1,000 0 Business Day 13 * Direct includes cost of retail goods

14 How visitor spending generates impact Travelers create direct economic value within a discreet group of sectors (e.g. recreation, transportation). This supports a relative proportion of jobs, wages, taxes, and GDP within each sector. Each directly affected sector also purchases goods and services as inputs (e.g. food wholesalers, utilities) into production. These impacts are called indirect impacts. Lastly, the induced impact is generated when employees whose incomes are generated either directly or indirectly by tourism, spend those incomes in the state economy. 14

15 Tourism employment More than 439,000 Ohio jobs were sustained by tourism in % (1 in 11 jobs) of total wage and salary employment in Ohio is sustained by tourism 15 Tourism Employment Direct Indirect Induced Total 2010 direct growth Agriculture, Fishing, Mining - 2, ,272 Construction and Utilities - 1, ,042 Manufacturing - 3,946 1,643 5,589 Wholesale Trade Air Transport 2, , % Other Transport 29,645 4,183 1,554 35, % Retail Trade 43,610 3,171 12,693 59, % Gasoline Stations 11, , % Communications - 2, ,767 Finance, Insurance and Real Estate 6,981 8,611 5,120 20, % Business Services - 16,892 5,181 22,073 Education and Health Care ,193 15,284 Recreation and Entertainment 59,843 3,046 1,862 64, % Lodging 36, , % Food & Beverage 135,173 2,345 6, , % Personal Services - 2,337 5,565 7,902 Government Business Day ,444 TOTAL 326,964 52,866 59, , % % change 0.4% 0.8% 0.8% 0.5%

16 Ranking tourism employment Ohio Employment Rank Industry Health Care and Social Assistance 730,400 2 Manufacturing 619,700 3 Retail Trade * 506,090 4 Administrative and Support 277,100 5 Financial Activities 274,100 6 Accommodation & Food Service* 240,951 7 Professional, Scientific, and Technical Services 237,700 8 Wholesale Trade 216,100 9 Other Serivces 211, Construction 167,600 Direct tourism employment 326,924 Tourism is the 4 th largest private Day sector employer in Ohio Source for comparison: US Bureau of Labor Statistics * Accommodation & Food Service and Retail Trade are reported NET of tourism employment 16

17 Employment contribution Tourism Employment Share of Key Industries Air Transport Retail Trade Recreation and Entertainment Lodging Food & Beverage Business Day Total Economy 0% 20% 40% 60% 80% 100% 17

18 Tourism wages 18 Tourism Income (Compensation) (US$ Million) Direct Indirect Induced Total 2010 direct growth Agriculture, Fishing, Mining Construction and Utilities Manufacturing Wholesale Trade Air Transport % Other Transport , % Retail Trade , % Gasoline Stations % Communications Finance, Insurance and Real Estate % Business Services Education and Health Care Recreation and Entertainment 1, , % Lodging % Food & Beverage 1, , % Personal Services Business Day Government TOTAL 6, , , , % % change 2.6% 0.8% 0.8% 1.9% Tourism generated personal income of $10.2 billion in 2010, increasing 1.9% since 2009

19 Tourism tax generation The tourism industry generated over $5 billion in taxes and fees in 2010 Tourism generated $2.6 billion in state and local taxes. $1.5 billion in state taxes Business $1.1 billion in local taxes Day Tourism-Generated Taxes (US$ Million) Total 2010 growth Federal Taxes 2, % Corporate Indirect Business Personal Income Social Security 1,058.6 State Taxes 1, % Corporate Personal Income Sales State Social Security 56.0 Excise and Fees 68.5 Local Taxes 1, % Personal Income 31.0 Sales Property Admissions 23.5 Lodging Other Taxes and Fees 62.4 TOTAL 5, % 19

20 Methods and data sources Domestic visitor expenditure estimates are provided by Longwoods International s representative survey of US travelers. These are broken out by sectors (lodging, transport at destination, food & beverage, retail, and recreation), by purpose (business and leisure), and by length of stay (day and overnight). Tourism Economics then adds several categories of spending to these figures: Overseas visitor spending (source: OTTI, TE) Spending on air travel which accrues to all airports and locally-based airlines Gasoline purchases by visitors (source: TE calculation) Smith Travel Research data on hotel revenues Lodging tax receipts All results are benchmarked and cross-checked against US Bureau of Labor Statistics and the Bureau of Economic Analysis data on wages and employment 20

21 About Tourism Economics Tourism Economics, headquartered in Philadelphia, is an Oxford Economics company dedicated to providing high value, robust, and relevant analyses of the tourism sector that reflects the dynamics of local and global economies. By combining quantitative methods with industry knowledge, Tourism Economics designs custom market strategies, project feasibility analysis, tourism forecasting models, tourism policy analysis, and economic impact studies. Our staff have worked with over 100 destinations to quantify the economic value of tourism, forecast demand, guide strategy, or evaluate tourism policies. Oxford Economics is one of the world s leading providers of economic analysis, forecasts and consulting advice. Founded in 1981 as a joint venture with Oxford University s business college, Oxford Economics is founded on a reputation for high quality, quantitative analysis and evidence-based advice. For this, it draws on its own staff of 40 highly-experienced professional economists; a dedicated data analysis team; global modeling tools; close links with Oxford University, and a range of partner institutions in Europe, the US and in the United Nations Project Link. For more information: 21

22 For more information: Adam Sacks, Managing Director Christopher Pike, Senior Economist 22

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