How Big Of A Part Of The Nc Economy Is Tourism?

North Carolina’s tourism economy reached its highest level ever in 2023, with travelers spending more than $33.3 billion on trips to and within the state. The previous record of $29.22 billion was set in pre-pandemic times. Travel spending statewide rose 6.9% to $35.6 billion in 2023, setting a record in visitor spending. This growth followed a record-breaking increase of 15%. The $37.9 billion of direct tourism demand generated a total economic impact of $55.2 billion in North Carolina in 2022, including indirect and induced impacts.

Domestic travelers spent a record $28.6 billion in 2021, up 45.2% from $19.7 billion in 2020. International travelers spent $337 million in 2021. A visitor spending study, commissioned by Visit NC and conducted by Tourism Economics in collaboration with the U.S. Travel Association, provides further details.

The tourism-supported workforce in North Carolina increased 4.8 to 227,200 jobs in 2023, while tourism payroll increased 6.6 to $9.3 billion. Visitors to North Carolina generated $4.2 billion in federal, state, and local taxes in 2022, representing a 7.9% increase from 2020. The travel economy in North Carolina has expanded for ten straight years, with total tourism demand rising 5.9 in 2019 and reaching $35.6 billion in 2023. With nearly 43 million visitors, the tourism and hospitality industry directly supports jobs and contributes to 6.2 of total employment in the state.

Visitors to North Carolina generated nearly $4.5 billion in federal, state, and local taxes in 2023, representing a 5.8% increase from the previous year.

How much does tourism contribute to the economy?

In 2023, travel and tourism contributed to the global GDP by 4%, reaching 9. 9 trillion U. S. dollars. This figure is predicted to reach 11. 1 trillion U. S. dollars in 2024, surpassing pre-pandemic levels. GDP, the total value of goods and services produced in a country, is an indicator of a country’s economic strength. The United States and China were the leading travel markets before and after the COVID-19 pandemic, followed by Germany, the United Kingdom, and Japan.

The number of international tourist arrivals increased significantly in 2023, with France welcoming 100 million visitors, followed by Spain and the United States. However, the number of international tourist arrivals did not catch up with pre-pandemic levels.

How much does the US rely on tourism?

In 2022, the travel and tourism sector in the United States contributed approximately 2. 02 trillion U. S. dollars to the country’s gross domestic product (GDP). Access to all statistics, commencing at $1, 788 USD per annum, is restricted to complimentary statistics and excludes sales tax. An annual contract is a prerequisite for this offer, which is subject to renewal at the regular list price after one year.

What industry contributes $70 billion annually to NC’s economy?

North Carolina’s $70-billion agriculture industry relies on a healthy workforce, with over 150, 000 farmworkers and their families. Agriculture is one of the most dangerous occupations in the US, posing numerous occupational health risks. Farmworker populations are traditionally underserved due to barriers to care like transportation, language, cost, and isolation. For more information, visit the NCFHP website.

How much money does North Carolina make from tourism?

North Carolina attracts 43 million visitors annually, with an estimated economic impact of $36 billion. This spending supports 227, 000 jobs and generates $2. 6 billion in state and local tax revenues. VisitNC. com offers travel ideas and inspiration to support this significant tourism industry.

What is North Carolina main source of income?

North Carolina, a national leader in agriculture, financial services, and manufacturing, has experienced significant growth over the past century. The state’s industrial output, primarily textiles, chemicals, electrical equipment, paper and pulp, and paper products, ranked eighth in the nation in the early 1990s. However, the textile industry has been losing jobs to producers in Latin America and Asia for the past 25 years, while furniture production has also been hit by job losses to Asia.

North Carolina’s agricultural outputs include poultry, eggs, tobacco, hogs, milk, nursery stock, cattle, sweet potatoes, cotton, and soybeans. It is the leading producer of tobacco in the country and remains vital to the local economy. The state’s mountain section produces sweet corn, wheat, oats, barley, hay, tobacco, fruits and vegetables, cattle, and chickens for market. A prominent new industry in the mountains is the raising and selling of Christmas trees.

In the Piedmont region of central North Carolina, all products of the mountains are found, with cotton appearing as the staple product over the southern half. In the coastal region, cotton, corn, and oats are staple crops, and truck farming is a flourishing industry. North Carolina also has four native grape varieties: Catawba, Isabella, Lincoln, and Scuppernong.

How important is tourism in North Carolina?

Visit North Carolina is a team of tourism industry specialists that promotes North Carolina as a preferred destination for travelers and film production. The state’s economy is significantly impacted by tourism, generating employment for over 225, 000 residents. The team invites businesses in the tourism industry to explore cooperative marketing opportunities and resources available on the state’s partner programs website. The program includes industry partners like Partners.

VisitNC. com, leisure travelers like VisitNC. com, film industry partners like FilmNC. com, prospective retirees like RetireNC. com, sports event rights holders like SportsNC. com, leisure travel inspiration through Project543. com, and an annual industry conference called Visit North Carolina 365.

Where does NC rank in tourism?

North Carolina has seen a 9. 5% increase in spending on international travelers in 2023, with nearly 700, 000 international visitors, bringing the total spending to $997 million. This growth is attributed to the state’s strong economy, which has seen a 9. 5% increase in domestic visitors, and the employment of over 50, 000 small businesses and the first-in-talent workforce. North Carolina’s tourism also contributes to state and local tax revenue, with households averaging $518 in yearly savings. The state’s economy is thriving, with the state’s economy thriving and the state’s economy growing.

Is North Carolina a tourist state?

As reported by the official travel and tourism website of North Carolina, the state has become the fifth most visited in the United States. Governor Roy Cooper has indicated that the state’s tourism economy reached its highest level last year, with visitors spending in excess of $35 billion. The total expenditure reached 6 billion dollars. Additionally, Asheville is anticipating a notable increase in holiday weekend air travel.

Who profits the most from tourism?

The US leads the travel and tourism market in revenue with 204. 45 billion U. S. dollars, followed by China with 149. 18 billion U. S. dollars, and Canada with 16. 75 billion U. S. dollars, resulting in a difference of 187. 7 billion U. S. dollars. Other insights include a ranking by country regarding revenue in the market and a subsegment in the Netherlands’ Cruises segment. Statista Market Insights covers a wide range of markets.

What are the top 3 industries in North Carolina?

North Carolina is home to several major business sectors, including aerospace and defense, automotive, truck and heavy machinery, biotechnology and pharmaceuticals, business and financial services, and energy. The state is home to leading aerospace, defense, and security companies like Honda Jet, GE Aviation, Lockheed Martin, and UTC Aerospace Systems. The automotive sector, with its 10th-largest employment in the country, is dominated by Freightliner, Daimler Trucks, Caterpillar, and Bridgestone. The state also boasts the largest research park in the US and three Tier 1 research universities.

What drives the economy in North Carolina?

The state’s gross domestic product (GDP) is primarily derived from the finance, insurance, real estate, rental, and leasing sector, as well as the manufacturing sector.