New economic impact study reveals that tourism is a billion dollar industry
During the Walton County Board of County Commission meeting, the Walton County Tourist Development Council unveiled the findings of the recent economic impact study.
Prepared by the Strategic Planning Group Inc. in Jacksonville, the economic analysis reports the impact of tourism on Walton County. The report updates and expands upon the earlier report released by the Haas Center for Business Research & Economic Development in 2004.
?We have worked hard over the last three years to evolve the brand and enhance our online marketing tactics and it appears our efforts are really paying off,? said Kriss Titus, executive director for the Walton County TDC. ?We were impressed with the findings, especially the increase in visitor spending, which exceeded our expectations.?
The report revealed that visitor spending is more than $1 billion annually ? up from $684.9 million that was reported in 2004. These findings were also supported by the annual visitor tracking study conducted by Majority Opinion research, which reported that average spending per party increased by $324 in 2006-2007 over the previous year.
Spending in turn contributes to county tax revenues. Nearly $130.9 million is generated in annual tax revenues, of which $93.8 million goes to general county revenues and $37 million directly supports the school district.
?We know through research that nine out of 10 of our visitors are repeat visitors,? Titus continued. ?It is encouraging knowing our regular visitors are coming back year after year and are investing even more in our local economy. It is not necessarily about attracting more visitors but inviting our regular visitors back to experience new seasons and new activities.?
The study also tracked jobs generated by tourism. More than 12,000 jobs in Walton County are directly or indirectly related to the tourism industry, generating $304 million in income and wages annually ? up from $257 million three years ago.
Tourism plays a key role as an economic engine for the entire county, spurring extraordinary growth in personal, business and professional services and in retail trade over the past two decades. More importantly, the economic impact of tourism is not just felt by those who directly work in the tourism industry, but widely distributed throughout Walton County, affecting almost every industry and household in the region.
During the Walton County Board of County Commission meeting, the Walton County Tourist Development Council unveiled the findings of the recent economic impact study.
Prepared by the Strategic Planning Group Inc. in Jacksonville, the economic analysis reports the impact of tourism on Walton County. The report updates and expands upon the earlier report released by the Haas Center for Business Research & Economic Development in 2004.
?We have worked hard over the last three years to evolve the brand and enhance our online marketing tactics and it appears our efforts are really paying off,? said Kriss Titus, executive director for the Walton County TDC. ?We were impressed with the findings, especially the increase in visitor spending, which exceeded our expectations.?
The report revealed that visitor spending is more than $1 billion annually ? up from $684.9 million that was reported in 2004. These findings were also supported by the annual visitor tracking study conducted by Majority Opinion research, which reported that average spending per party increased by $324 in 2006-2007 over the previous year.
Spending in turn contributes to county tax revenues. Nearly $130.9 million is generated in annual tax revenues, of which $93.8 million goes to general county revenues and $37 million directly supports the school district.
?We know through research that nine out of 10 of our visitors are repeat visitors,? Titus continued. ?It is encouraging knowing our regular visitors are coming back year after year and are investing even more in our local economy. It is not necessarily about attracting more visitors but inviting our regular visitors back to experience new seasons and new activities.?
The study also tracked jobs generated by tourism. More than 12,000 jobs in Walton County are directly or indirectly related to the tourism industry, generating $304 million in income and wages annually ? up from $257 million three years ago.
Tourism plays a key role as an economic engine for the entire county, spurring extraordinary growth in personal, business and professional services and in retail trade over the past two decades. More importantly, the economic impact of tourism is not just felt by those who directly work in the tourism industry, but widely distributed throughout Walton County, affecting almost every industry and household in the region.