Travel and Tourism Matter!

By Traci, Destination Marketing Manager / Content Strategist | April 29, 2019

Next week (May 5-11) is National Travel and Tourism Week 2019—the 36th annual celebration of the U.S. travel industry. This year’s theme is “Travel Matters.” With so many clients and colleagues in this industry, we couldn’t agree more. Here’s a quick overview of why this industry is so vital.

Economy

Can you believe:

• Travel generated $2.5 trillion for the U.S. economy in 2018 across all U.S. industries.
• Tax revenue from travel spending for federal, state and local governments totaled $171 billion in 2018. Without these revenues, households would pay an average of $1,340 more in taxes every year for the same level of services.
• Inbound travel is one the best-performing U.S. exports—generating a $69 billion trade surplus for America’s economy.

Jobs

Did you realize:

• Travel supported 15.7 million American jobs in 2018 across all U.S. industries—that’s one in 10 American jobs.
• Travel is an essential contributor to America’s workforce, providing a  path
  to prosperity through experience, higher education and transferable skills.
• 83% of travel companies are considered small businesses, making major impact in the small business sector.

The Local Connection

Consider that:

• Approximately 80 million inbound travelers visited America in 2018, about half of whom came from overseas. Spending by these visitors supports 1.2 million American jobs.
• Here in the Hudson Valley, visitors spent $5.5 billion in 2017, mainly in food and beverage, lodging, recreation, retail and transport.
• The tourism industry employed 88,826 Hudson Valley residents in 2017, generating nearly $682 million in taxes.

Family & Well Being

Also, important:

• Travel helps families connect, create everlasting memories and develop lifelong bonds. In fact, 61% of children say the best way to spend time with their parents is on vacation.
• Americans who take all or most of their vacation days to travel report being 20% happier with their personal relationships and 56% happier with their health and well-being than those who travel with little or none of their vacation time.

At BBG&G we’re proud to work in this fascinating, thriving industry—with so many people who share our passion for excellence. Bravo and bon voyage!