Vermont’s tourism industry grows to $2.8 billion and supports 32,000 jobs. Photo courtesy of Bromley.
Vermont Business Magazine Governor Phil Scott and the Vermont Department of Tourism and Marketing on Thursday released Vermont’s 2017 Tourism Benchmark Study. The biennial publication illustrates the positive impact tourism has on the Vermont economy through spending, jobs and revenue to local and state governments. In 2017, 13 million people visited Vermont, bringing $2.8 billion into the state. After manufacturing, tourism represents the largest contribution of out-of-state money to Vermont’s economy. The industry supports 32,000 jobs, or nearly 10 percent of the state’s workforce. The tourism sector contributed $391 million in tax revenue in 2017, which provides a tax reduction of $1,450 for every Vermont household.
“The tourism benchmark study confirms what we intuitively know: tourism is vital to growing our economy,” said Governor Scott. “Tourists visit all corners of our state, spending money on fuel, dining, lodging and our quality Vermont products. These visitors are essential to strengthening our local economies and rural communities.”
The Tourism Benchmark Study also reveals the importance of the winter season, second home owners, and tourism spending patterns in the southern part of the state.
“Winter makes Vermont a unique tourism destination compared to neighboring states,” said Vermont Department of Tourism and Marketing Commissioner Wendy Knight. “While summer is the strongest tourism season across the Northeast, Vermont sees strong economic activity during the winter months that states like New York and New Hampshire do not. Vermont’s ski resorts continue to invest in their properties, creating places and experiences that draw people to our state.”
According to the study, second homes make up 20 percent of all Vermont housing and second home owners contribute $380 million in economic activity. With its proximity to the primary drive markets of New York and Boston, Southern Vermont (Rutland, Bennington, Windsor and Windham Counties) accounts for 50 percent of second home property tax revenue and generates 40 percent of the state’s rooms tax receipts.
The Benchmark Study is compiled using analysis of tax reports, credit card data and statistics from the Department of Labor and the U.S. Bureau of Economic Analysis. Both the Executive Summary and full report are available for review online.
About the Vermont Department of Tourism and Marketing
The Department of Tourism and Marketing promotes Vermont’s travel, recreation, cultural and historic attractions, as well as the state’s goods and services, in coordination with public and private sector partners. The department also works to market to a global audience in a manner consistent with the values and traditions of the state for the economic benefit of all Vermonters. Vermont’s tourism sector supports 32,000 jobs and contributes $2.8 billion in economic activity each year. VermontVacation.com.
About the Vermont Agency of Commerce and Community Development
The Vermont Agency of Commerce and Community Development’s (ACCD) mission is to help Vermonters improve their quality of life and build strong communities. ACCD accomplishes this mission by providing grants, technical assistance, and advocacy through three divisions: The Department of Economic Development, the Department of Tourism and Marketing, and the Department of Housing and Community Development. For more information on ACCD please visit: accd.vermont.gov.
Source: Governor 12.20.2018