Stowe, VT (PRWEB) April 03, 2013
The biannual Vermont Department of Tourism and Marketing comprehensive research study titled: “A Benchmark Study of the Economic Impact of Visitor Expenditures on the Vermont Economy – 2011,” shows record growth in visitor spending and employment. Visitor spending generated $274.5 million in tax and fee revenue for Vermont, a 37.5 percent increase over 2009. Visitor spending also supports an estimated 37,910 jobs for Vermonters; accounting for approximately 11.5 percent of all Vermont jobs; this reflects a 13.1 percent increase of employment in the hospitality and recreation sector since 2009.
The research also details that 72.9 percent of the 13.95 million person trips are made by out of state visitors. Traveler origins are domestic U.S. (7.6 million), Vermont (3.8 million), Canadian (2.5 million) and International (.078 million).
“The preliminary taxable receipts reports for calendar 2012 indicate that the positive measures in 2011 have continued in 2012, with Meals, Rooms and Alcohol (MRA) sales up 4.73 percent,” VDTM Commissioner Megan Smith said. “Plus, this snowy, busy winter has meant a strong start for tourism in 2013.”
Key sectors of Vermont's economy are substantially more dependent on visitor spending than the national average. Jobs supported by visitor spending in eating and drinking venues represent 36.3 percent and jobs supported by visitor retail spending account for 6.8 percent, compared to the U.S. average of 18.1 percent and 2.9 percent, respectively.
Tax and fee revenues yielded from visitor spending during 2011 were $274.5 million total, disbursed to the general fund, education fund and transportation fund, up from $199.6 million in 2009.
The VDTM tourism industry fact sheet and the complete benchmark study are available at http://www.VermontPartners.com.
This research as well as current VDTM marketing and communications initiatives was presented to more than 250 tourism industry professionals gathered for the first day of the 30th Annual Vermont Travel Industry Conference at the Stoweflake Resort in Stowe, Vt. For more information about Chmura Economics & Analytics, Richmond, Va., visit http://www.chmuraecon.com.