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2012 Calendar Year
Hudson Valley Focus
The Economic Impact of
Tourism in New York
2
Regional Summary
3
Traveler spending by region
 New York State is
divided into 11
economic regions.
 New York City is the
largest single tourism
region with 65% of
state visitor spend.
 New York City, Long
Island and Hudson
Valley together
comprise nearly 80%
of New York State
traveler spend.
Traveler Spending, 2012
Chautauqua-
Allegheny
1%
Niagara
4%
FingerLakes
5% Thous. Islands
1%
Adirondacks
2%
Cen. New York
3%
Capital-
Saratoga
3%
Catskills
2%
Hudson Valley
5%
Long Island
9%
New York City
65%
4
Reliance on tourism
 Tourism is an integral
part of every region’s
economy, generating
from 6% to 18% of
employment.
 Tourism is most
important to the
Adirondacks and
Catskills, generating
18% and 15% of total
employment,
respectively.
Note: All regional and county tourism shares are calculated using QCEW (ES-202) employment and wage totals as produced by
the NYS Dept. of Labor.
Tourism Share of Regional Employment 2012
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
18.0%
LongIsland
FingerLakes
HudsonValley
Capital-Saratoga
Thous.Islands
Niagara
NewYorkCity
Cen.NewYork
Chaut.-Allegheny
Catskills
Adirondacks
Direct Tourism Total Tourism
5
Business Day
Regional Detail for
Hudson Valley
6
Hudson Valley, county distribution
Business Day
 Tourism in the Hudson Valley
region is a $3.1 billion
industry, supporting 51,388
jobs.
 Westchester County
represents 53% of the region’s
tourism sales with $1.7 billion
in traveler spending.
 Traveler spending in the
region increased 3.1% in
2012.
Traveler Spending in 2012
Columbia
4%
Dutchess
15%
Orange
13%
Putnam
2%
Rockland
13%
Westchester
53%
7
Hudson Valley, total tourism impact
Total Tourism
Impact, 2012
Traveler Spend
'000
Labor Income,
'000
Employment
Local Taxes
'000
State Taxes '000
Columbia $126,631 $54,991 1,451 $8,088 $6,949
Dutchess $473,561 $242,748 8,430 $32,938 $25,989
Orange $430,568 $236,369 9,054 $28,785 $23,630
Putnam $51,647 $24,323 1,166 $3,489 $2,834
Rockland $401,234 $219,368 8,230 $25,606 $22,020
Westchester $1,679,229 $944,951 23,058 $107,811 $92,156
TOTAL $3,162,869 $1,722,749 51,388 $206,718 $173,578
8
Hudson Valley, traveler spending
 Travelers spent $3.1 billion in
the Hudson Valley region in
2012 across a diverse range
of sectors.
 Spending on food &
beverages and transportation
services comprised 26% and
22% of the total, respectively.
Tourism Spending
Lodging
19%
Recreation
8%
F&B
26%
Retail &Svc
Stations
21%
Transport
22%
Second
Homes
4%
9
Hudson Valley, traveler spending
2012 Traveler Spend
'000s
Lodging Recreation F&B
Retail & Svc
Stations
Transport
Second
Homes
Total
Columbia $16,600 $10,169 $21,942 $17,353 $23,982 $36,584 $126,631
Dutchess $89,496 $32,029 $107,541 $85,169 $133,032 $26,296 $473,561
Orange $63,321 $19,832 $115,582 $76,169 $142,735 $12,928 $430,568
Putnam $4,136 $6,821 $17,604 $10,614 $2,983 $9,489 $51,647
Rockland $75,878 $43,184 $132,591 $100,866 $43,620 $5,095 $401,234
Westchester $358,107 $146,017 $442,486 $359,140 $344,098 $29,381 $1,679,229
TOTAL $607,537 $258,052 $837,746 $649,310 $690,449 $119,773 $3,162,869
10
Regional growth
Traveler Spend '000s 2010 2011 2012
2012 / 2011
%
Columbia 101,550$ 108,142$ 126,631$ 17.1%
Dutchess 451,584$ 467,223$ 473,561$ 1.4%
Orange 384,350$ 409,286$ 430,568$ 5.2%
Putnam 54,619$ 54,805$ 51,647$ -5.8%
Rockland 342,453$ 369,866$ 401,234$ 8.5%
Westchester 1,529,715$ 1,656,983$ 1,679,229$ 1.3%
TOTAL 2,864,271$ 3,066,304$ 3,162,869$ 3.1%
Local Taxes, $ 2010 2011 2012
2012 / 2011
%
Columbia 6,680,360$ 6,993,996$ 8,088,348 15.6%
Dutchess 31,683,665$ 33,105,222$ 32,938,342 -0.5%
Orange 26,455,189$ 27,670,542$ 28,785,397 4.0%
Putnam 3,648,640$ 3,819,026$ 3,489,298 -8.6%
Rockland 24,178,663$ 23,779,760$ 25,606,304 7.7%
Westchester 101,884,242$ 106,943,926$ 107,810,765 0.8%
TOTAL 194,530,759$ 202,312,472$ 206,718,455 2.2%
State Taxes, $ 2010 2011 2012
2012 / 2011
%
Columbia 5,704,562$ 5,967,344$ 6,949,481 16.5%
Dutchess 25,367,565$ 25,781,648$ 25,989,026 0.8%
Orange 21,590,724$ 22,584,669$ 23,629,540 4.6%
Putnam 3,068,207$ 3,024,159$ 2,834,360 -6.3%
Rockland 19,237,185$ 20,409,462$ 22,019,692 7.9%
Westchester 85,931,250$ 91,433,377$ 92,156,040 0.8%
TOTAL 160,899,494$ 169,200,660$ 173,578,140 2.6%
11
Hudson Valley, labor income
Business Day
 Tourism in the Hudson Valley region generated more than $1 billion in direct
labor income and $1.7 billion including indirect and induced impacts.
 Tourism is most significant in Westchester County, generating $944 million in
labor income.
Tourism-Generated Labor Income
$0
$100
$200
$300
$400
$500
$600
$700
$800
$900
$1,000
Columbia
Dutchess
Orange
Putnam
Rockland
Westchester
Millions
Indirect/Induced Direct
12
Day
 3.8% of all labor income in the
Hudson Valley region is
generated by tourism.
 Columbia County is the most
dependent upon tourism with
7.2% of all labor income
generated by visitors.
Tourism-Generated Labor Income
Share of Economy, 2012
Hudson Valley, labor income
0.0% 2.0% 4.0% 6.0% 8.0%
Columbia
Dutchess
Orange
Putnam
Rockland
Westchester
TOTAL
Share of Economy
Share (Total)
Share (Direct)
13
Business Day
2012 Tourism Labor
Income, '000
Direct
Total (Direct,
Indir., Induced)
Share (Direct) Share (Total)
Columbia $32,502 $54,991 4.3% 7.2%
Dutchess $143,475 $242,748 2.7% 4.5%
Orange $139,705 $236,369 2.6% 4.4%
Putnam $14,376 $24,323 1.2% 2.1%
Rockland $129,656 $219,368 2.2% 3.7%
Westchester $558,509 $944,951 2.1% 3.6%
TOTAL $1,018,222 $1,722,749 2.3% 3.8%
Hudson Valley, labor income
14
Hudson Valley, tourism employment
Day
 6.4% of all employment in the
Hudson Valley region is
generated by tourism.
 Dutchess County is the most
dependent upon tourism with
7.7% of all employment
sustained by visitors.
Tourism-Generated Employment
Share of Economy, 2012
0.0% 2.0% 4.0% 6.0% 8.0%
Columbia
Dutchess
Orange
Putnam
Rockland
Westchester
TOTAL
Share of Economy
Share (Total)
Share (Direct)
15
Hudson Valley, tourism employment
2012 Tourism
Employment
Direct
Total (Direct, Ind.,
Induced)
Share (Direct) Share (Total)
Columbia 1,009 1,451 5.0% 7.2%
Dutchess 5,864 8,430 5.4% 7.7%
Orange 6,298 9,054 4.9% 7.0%
Putnam 811 1,166 3.3% 4.8%
Rockland 5,725 8,230 5.0% 7.2%
Westchester 16,039 23,058 4.0% 5.7%
TOTAL 35,747 51,388 4.5% 6.4%
Day
Tourism-Generated Employment, 2012
0
5,000
10,000
15,000
20,000
25,000
Columbia
Dutchess
Orange
Putnam
Rockland
Westchester
Indirect/Induced Direct
16
Hudson Valley, tourism taxes
Business Day
 Tourism in the Hudson Valley
region generated $380 million
in state and local taxes in
2012.
 Sales, property, and hotel bed
taxes contributed to $206
million in local taxes.
 Westchester County produced
53% of the region’s tourism
tax base in 2012.
Tourism-Generated Taxes, 2012
$0
$50
$100
$150
$200
$250
Columbia
Dutchess
Orange
Putnam
Rockland
Westchester
Millions
Local State
17
Hudson Valley, tourism taxes
Business Day
Tourism-Generated
Taxes, 2012
Local Taxes State Taxes Total Region Share
Tax Savings per
Household
Columbia $8,088,348 $6,949,481 15,037,829 4.0% $586
Dutchess $32,938,342 $25,989,026 58,927,368 15.5% $550
Orange $28,785,397 $23,629,540 52,414,937 13.8% $420
Putnam $3,489,298 $2,834,360 6,323,659 1.7% $181
Rockland $25,606,304 $22,019,692 47,625,996 12.5% $485
Westchester $107,810,765 $92,156,040 199,966,806 52.6% $578
TOTAL $206,718,455 $173,578,140 380,296,595 100.0% $516
 Were it not for tourism-generated state and local taxes, the average household
in the region would have to pay an additional $516 to maintain the same level of
government revenue.
18
• Household surveys from the US Travel Association and Longwoods International have provided
key inputs in establishing traveler spending figures. Industry data on lodging, airports, Amtrak, and
attractions contribute to year-over-year growth analysis.
• Employment definitions. The basis of our data and modeling is the Regional Economic
Information System (REIS), Bureau of Economic Analysis, U.S. Department of Commerce. This is
different than the NYS Department of Labor data source (ES202/QCEW). The main definitional
difference is that sole-proprietors, which do not require unemployment insurance and are not
counted in the ES202 data. BEA data shows (for example) state accommodations employment at
89,124, compared with QCEW at 82,190. For total employment (across all sectors), the difference
is 20%.
• International methodology. Our approach (through Travel Industry Association calculations) is
based the estimates on direct survey responses to the Department of Commerce in-flight survey
and Statistics Canada data – constrained to BEA international balance of payments data. The NY
data are consistent with TIA’s state-by-state distribution which ensures against overestimation.
• All employment and income results are constrained to known industry measurements for key
tourism sectors.
Methods and data sources
19
• Local taxes are a build-up of individual categories (sales, occupancy, property). The model is
not equipped to deal with individual exemptions such as Indian gaming.
• Second home expenditures are based on the stock of seasonal second home inventory.
Annual average expenditures for housing are pro-rated to the season length to account for
various levels of expenditures not accounted in visitor surveys.
• Lodging sector. Our models use survey information and constrains this to the value of the
hotel sector in each county. This can vary from certain bed tax estimates of total revenue for
several reasons. One is that the bed tax may only be based on room revenue while total sales
for the industry may include other revenue sources (room service, phone, etc.). Another is
that certain smaller establishments may not fully report or be required to report their revenue.
Methods and data sources
20
 Tourism Economics utilized the IMPLAN input-output model for New York State to
track the flow of sales through the economy to the generation of GDP, employment,
wages, and taxes.
 The impacts are measured on three levels:
■ Direct impact: The immediate benefit to persons and companies directly
providing goods or services to travelers.
■ Indirect impact: The secondary benefit to suppliers of goods and services to the
directly-involved companies. For example, a food wholesaler providing goods to
a restaurant. The model is careful to exclude imports from the impact
calculations.
■ Induced impact: The tertiary benefit to the local economy as incomes in the
prior two levels of impact are spent on goods and services. For example, a
restaurant employee spends his wages at a grocery store, generating addition
economic output.
Methods and data sources
21
About Tourism Economics
 Tourism Economics, headquartered in Philadelphia, is an Oxford Economics company
dedicated to providing high value, robust, and relevant analyses of the tourism sector
that reflects the dynamics of local and global economies. By combining quantitative
methods with industry knowledge, Tourism Economics designs custom market
strategies, project feasibility analysis, tourism forecasting models, tourism policy
analysis, and economic impact studies.
 Our staff have worked with over 100 destinations to quantify the economic value of
tourism, forecast demand, guide strategy, or evaluate tourism policies.
 Oxford Economics is one of the world’s leading providers of economic analysis,
forecasts and consulting advice. Founded in 1981 as a joint venture with Oxford
University’s business college, Oxford Economics is founded on a reputation for high
quality, quantitative analysis and evidence-based advice. For this, it draws on its own
staff of 40 highly-experienced professional economists; a dedicated data analysis
team; global modeling tools; close links with Oxford University, and a range of partner
institutions in Europe, the US and in the United Nations Project Link.
 For more information: info@tourismeconomics.com.
22
For more information:
+1.610.995.9600, info@tourismeconomics.com

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NYS Tourism Impact 2012 - Hudson Valley Region

  • 1. 2012 Calendar Year Hudson Valley Focus The Economic Impact of Tourism in New York
  • 3. 3 Traveler spending by region  New York State is divided into 11 economic regions.  New York City is the largest single tourism region with 65% of state visitor spend.  New York City, Long Island and Hudson Valley together comprise nearly 80% of New York State traveler spend. Traveler Spending, 2012 Chautauqua- Allegheny 1% Niagara 4% FingerLakes 5% Thous. Islands 1% Adirondacks 2% Cen. New York 3% Capital- Saratoga 3% Catskills 2% Hudson Valley 5% Long Island 9% New York City 65%
  • 4. 4 Reliance on tourism  Tourism is an integral part of every region’s economy, generating from 6% to 18% of employment.  Tourism is most important to the Adirondacks and Catskills, generating 18% and 15% of total employment, respectively. Note: All regional and county tourism shares are calculated using QCEW (ES-202) employment and wage totals as produced by the NYS Dept. of Labor. Tourism Share of Regional Employment 2012 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% LongIsland FingerLakes HudsonValley Capital-Saratoga Thous.Islands Niagara NewYorkCity Cen.NewYork Chaut.-Allegheny Catskills Adirondacks Direct Tourism Total Tourism
  • 5. 5 Business Day Regional Detail for Hudson Valley
  • 6. 6 Hudson Valley, county distribution Business Day  Tourism in the Hudson Valley region is a $3.1 billion industry, supporting 51,388 jobs.  Westchester County represents 53% of the region’s tourism sales with $1.7 billion in traveler spending.  Traveler spending in the region increased 3.1% in 2012. Traveler Spending in 2012 Columbia 4% Dutchess 15% Orange 13% Putnam 2% Rockland 13% Westchester 53%
  • 7. 7 Hudson Valley, total tourism impact Total Tourism Impact, 2012 Traveler Spend '000 Labor Income, '000 Employment Local Taxes '000 State Taxes '000 Columbia $126,631 $54,991 1,451 $8,088 $6,949 Dutchess $473,561 $242,748 8,430 $32,938 $25,989 Orange $430,568 $236,369 9,054 $28,785 $23,630 Putnam $51,647 $24,323 1,166 $3,489 $2,834 Rockland $401,234 $219,368 8,230 $25,606 $22,020 Westchester $1,679,229 $944,951 23,058 $107,811 $92,156 TOTAL $3,162,869 $1,722,749 51,388 $206,718 $173,578
  • 8. 8 Hudson Valley, traveler spending  Travelers spent $3.1 billion in the Hudson Valley region in 2012 across a diverse range of sectors.  Spending on food & beverages and transportation services comprised 26% and 22% of the total, respectively. Tourism Spending Lodging 19% Recreation 8% F&B 26% Retail &Svc Stations 21% Transport 22% Second Homes 4%
  • 9. 9 Hudson Valley, traveler spending 2012 Traveler Spend '000s Lodging Recreation F&B Retail & Svc Stations Transport Second Homes Total Columbia $16,600 $10,169 $21,942 $17,353 $23,982 $36,584 $126,631 Dutchess $89,496 $32,029 $107,541 $85,169 $133,032 $26,296 $473,561 Orange $63,321 $19,832 $115,582 $76,169 $142,735 $12,928 $430,568 Putnam $4,136 $6,821 $17,604 $10,614 $2,983 $9,489 $51,647 Rockland $75,878 $43,184 $132,591 $100,866 $43,620 $5,095 $401,234 Westchester $358,107 $146,017 $442,486 $359,140 $344,098 $29,381 $1,679,229 TOTAL $607,537 $258,052 $837,746 $649,310 $690,449 $119,773 $3,162,869
  • 10. 10 Regional growth Traveler Spend '000s 2010 2011 2012 2012 / 2011 % Columbia 101,550$ 108,142$ 126,631$ 17.1% Dutchess 451,584$ 467,223$ 473,561$ 1.4% Orange 384,350$ 409,286$ 430,568$ 5.2% Putnam 54,619$ 54,805$ 51,647$ -5.8% Rockland 342,453$ 369,866$ 401,234$ 8.5% Westchester 1,529,715$ 1,656,983$ 1,679,229$ 1.3% TOTAL 2,864,271$ 3,066,304$ 3,162,869$ 3.1% Local Taxes, $ 2010 2011 2012 2012 / 2011 % Columbia 6,680,360$ 6,993,996$ 8,088,348 15.6% Dutchess 31,683,665$ 33,105,222$ 32,938,342 -0.5% Orange 26,455,189$ 27,670,542$ 28,785,397 4.0% Putnam 3,648,640$ 3,819,026$ 3,489,298 -8.6% Rockland 24,178,663$ 23,779,760$ 25,606,304 7.7% Westchester 101,884,242$ 106,943,926$ 107,810,765 0.8% TOTAL 194,530,759$ 202,312,472$ 206,718,455 2.2% State Taxes, $ 2010 2011 2012 2012 / 2011 % Columbia 5,704,562$ 5,967,344$ 6,949,481 16.5% Dutchess 25,367,565$ 25,781,648$ 25,989,026 0.8% Orange 21,590,724$ 22,584,669$ 23,629,540 4.6% Putnam 3,068,207$ 3,024,159$ 2,834,360 -6.3% Rockland 19,237,185$ 20,409,462$ 22,019,692 7.9% Westchester 85,931,250$ 91,433,377$ 92,156,040 0.8% TOTAL 160,899,494$ 169,200,660$ 173,578,140 2.6%
  • 11. 11 Hudson Valley, labor income Business Day  Tourism in the Hudson Valley region generated more than $1 billion in direct labor income and $1.7 billion including indirect and induced impacts.  Tourism is most significant in Westchester County, generating $944 million in labor income. Tourism-Generated Labor Income $0 $100 $200 $300 $400 $500 $600 $700 $800 $900 $1,000 Columbia Dutchess Orange Putnam Rockland Westchester Millions Indirect/Induced Direct
  • 12. 12 Day  3.8% of all labor income in the Hudson Valley region is generated by tourism.  Columbia County is the most dependent upon tourism with 7.2% of all labor income generated by visitors. Tourism-Generated Labor Income Share of Economy, 2012 Hudson Valley, labor income 0.0% 2.0% 4.0% 6.0% 8.0% Columbia Dutchess Orange Putnam Rockland Westchester TOTAL Share of Economy Share (Total) Share (Direct)
  • 13. 13 Business Day 2012 Tourism Labor Income, '000 Direct Total (Direct, Indir., Induced) Share (Direct) Share (Total) Columbia $32,502 $54,991 4.3% 7.2% Dutchess $143,475 $242,748 2.7% 4.5% Orange $139,705 $236,369 2.6% 4.4% Putnam $14,376 $24,323 1.2% 2.1% Rockland $129,656 $219,368 2.2% 3.7% Westchester $558,509 $944,951 2.1% 3.6% TOTAL $1,018,222 $1,722,749 2.3% 3.8% Hudson Valley, labor income
  • 14. 14 Hudson Valley, tourism employment Day  6.4% of all employment in the Hudson Valley region is generated by tourism.  Dutchess County is the most dependent upon tourism with 7.7% of all employment sustained by visitors. Tourism-Generated Employment Share of Economy, 2012 0.0% 2.0% 4.0% 6.0% 8.0% Columbia Dutchess Orange Putnam Rockland Westchester TOTAL Share of Economy Share (Total) Share (Direct)
  • 15. 15 Hudson Valley, tourism employment 2012 Tourism Employment Direct Total (Direct, Ind., Induced) Share (Direct) Share (Total) Columbia 1,009 1,451 5.0% 7.2% Dutchess 5,864 8,430 5.4% 7.7% Orange 6,298 9,054 4.9% 7.0% Putnam 811 1,166 3.3% 4.8% Rockland 5,725 8,230 5.0% 7.2% Westchester 16,039 23,058 4.0% 5.7% TOTAL 35,747 51,388 4.5% 6.4% Day Tourism-Generated Employment, 2012 0 5,000 10,000 15,000 20,000 25,000 Columbia Dutchess Orange Putnam Rockland Westchester Indirect/Induced Direct
  • 16. 16 Hudson Valley, tourism taxes Business Day  Tourism in the Hudson Valley region generated $380 million in state and local taxes in 2012.  Sales, property, and hotel bed taxes contributed to $206 million in local taxes.  Westchester County produced 53% of the region’s tourism tax base in 2012. Tourism-Generated Taxes, 2012 $0 $50 $100 $150 $200 $250 Columbia Dutchess Orange Putnam Rockland Westchester Millions Local State
  • 17. 17 Hudson Valley, tourism taxes Business Day Tourism-Generated Taxes, 2012 Local Taxes State Taxes Total Region Share Tax Savings per Household Columbia $8,088,348 $6,949,481 15,037,829 4.0% $586 Dutchess $32,938,342 $25,989,026 58,927,368 15.5% $550 Orange $28,785,397 $23,629,540 52,414,937 13.8% $420 Putnam $3,489,298 $2,834,360 6,323,659 1.7% $181 Rockland $25,606,304 $22,019,692 47,625,996 12.5% $485 Westchester $107,810,765 $92,156,040 199,966,806 52.6% $578 TOTAL $206,718,455 $173,578,140 380,296,595 100.0% $516  Were it not for tourism-generated state and local taxes, the average household in the region would have to pay an additional $516 to maintain the same level of government revenue.
  • 18. 18 • Household surveys from the US Travel Association and Longwoods International have provided key inputs in establishing traveler spending figures. Industry data on lodging, airports, Amtrak, and attractions contribute to year-over-year growth analysis. • Employment definitions. The basis of our data and modeling is the Regional Economic Information System (REIS), Bureau of Economic Analysis, U.S. Department of Commerce. This is different than the NYS Department of Labor data source (ES202/QCEW). The main definitional difference is that sole-proprietors, which do not require unemployment insurance and are not counted in the ES202 data. BEA data shows (for example) state accommodations employment at 89,124, compared with QCEW at 82,190. For total employment (across all sectors), the difference is 20%. • International methodology. Our approach (through Travel Industry Association calculations) is based the estimates on direct survey responses to the Department of Commerce in-flight survey and Statistics Canada data – constrained to BEA international balance of payments data. The NY data are consistent with TIA’s state-by-state distribution which ensures against overestimation. • All employment and income results are constrained to known industry measurements for key tourism sectors. Methods and data sources
  • 19. 19 • Local taxes are a build-up of individual categories (sales, occupancy, property). The model is not equipped to deal with individual exemptions such as Indian gaming. • Second home expenditures are based on the stock of seasonal second home inventory. Annual average expenditures for housing are pro-rated to the season length to account for various levels of expenditures not accounted in visitor surveys. • Lodging sector. Our models use survey information and constrains this to the value of the hotel sector in each county. This can vary from certain bed tax estimates of total revenue for several reasons. One is that the bed tax may only be based on room revenue while total sales for the industry may include other revenue sources (room service, phone, etc.). Another is that certain smaller establishments may not fully report or be required to report their revenue. Methods and data sources
  • 20. 20  Tourism Economics utilized the IMPLAN input-output model for New York State to track the flow of sales through the economy to the generation of GDP, employment, wages, and taxes.  The impacts are measured on three levels: ■ Direct impact: The immediate benefit to persons and companies directly providing goods or services to travelers. ■ Indirect impact: The secondary benefit to suppliers of goods and services to the directly-involved companies. For example, a food wholesaler providing goods to a restaurant. The model is careful to exclude imports from the impact calculations. ■ Induced impact: The tertiary benefit to the local economy as incomes in the prior two levels of impact are spent on goods and services. For example, a restaurant employee spends his wages at a grocery store, generating addition economic output. Methods and data sources
  • 21. 21 About Tourism Economics  Tourism Economics, headquartered in Philadelphia, is an Oxford Economics company dedicated to providing high value, robust, and relevant analyses of the tourism sector that reflects the dynamics of local and global economies. By combining quantitative methods with industry knowledge, Tourism Economics designs custom market strategies, project feasibility analysis, tourism forecasting models, tourism policy analysis, and economic impact studies.  Our staff have worked with over 100 destinations to quantify the economic value of tourism, forecast demand, guide strategy, or evaluate tourism policies.  Oxford Economics is one of the world’s leading providers of economic analysis, forecasts and consulting advice. Founded in 1981 as a joint venture with Oxford University’s business college, Oxford Economics is founded on a reputation for high quality, quantitative analysis and evidence-based advice. For this, it draws on its own staff of 40 highly-experienced professional economists; a dedicated data analysis team; global modeling tools; close links with Oxford University, and a range of partner institutions in Europe, the US and in the United Nations Project Link.  For more information: info@tourismeconomics.com.
  • 22. 22 For more information: +1.610.995.9600, info@tourismeconomics.com