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Understanding Tourism's Economic Impact in West Virginia
- 2. HOW THIS DATA IS COLLECTED • West Virginia Department of Revenue tax rates and revenue • West Virginia State Auditor’s Office B&O tax • West Virginia Lottery racetrack video lottery, table games • West Virginia Racing Commission live and on-site wagering • Counties and local municipalities hotel occupancy tax receipts
- 3. HOW THIS DATA IS COLLECTED • U.S. Census Bureau payroll to receipts ratios, vacation and private homes • U.S. Bureau of Labor Statistics payroll and employment data, consumer price index • U.S. Bureau of Economic Analysis earnings and self- employment, gross domestic • Energy Information Administration motor fuel prices and volume • Visitor Survey Data travel spending and type distributions • Smith Travel Research average room rates
- 4. TRAVEL DEFINED • Travel: A day or overnight trip that is not of a local or communing nature for business or pleasure • Traveler: May be a West Virginia resident or a resident of another state • Overnight Stay: Night spent away from home in West Virginia • Day Visitor: Travelers whose trip does not include an overnight stay in West Virginia • Travel Spending: Spending by travelers at or near their destinations, including transportation
- 5. NATIONAL TRENDS Direct Spending and Industry Employment
- 6. NATIONAL TRENDS: 2016 SPENDING Direct Spending $933 Billion "REAL" is adjusted for inflation
- 7. NATIONAL TRENDS: 2016 JOBS Travel-Generated Employment 5.3 Million Jobs
- 8. WEST VIRGINIA DIRECT IMPACTS Direct Spending, Employment, and Revenues
- 9. TOTAL DIRECT SPENDING Direct Spending $4.1 Billion Increased by 5.8% per Year between 2000 and 2012 Decreased by 3.8% per Year Since 2012 Equivalent to $11.3 Million per Day =
- 11. 2016 JOBS AND EARNINGS 44,900 Travel-Generated Employment $1.1 Billion Earnings
- 12. LOCAL AND STATE REVENUES $527 Million In Travel-Generated State and Local Tax Revenue $700 Amount per year each household in West Virginia would have to pay in state and local taxes without this revenue
- 13. REGIONAL IMPACTS Direct Spending, Employment, and Revenues
- 15. NORTHERN PANHANDLE REGION Direct Spending $667 Million Travel-Generated Employment 7,800 Jobs Travel-Generated Tax Revenues $120 Million
- 16. Direct Spending $173 Million Travel-Generated Employment 1,900 Jobs Travel-Generated Tax Revenues $14 Million MID-OHIO VALLEY REGION
- 17. METRO VALLEY REGION Direct Spending $759 Million Travel-Generated Employment 7,100 Jobs Travel-Generated Tax Revenues $67 Million
- 18. Direct Spending $174 Million Travel-Generated Employment 2,000 Jobs Travel-Generated Tax Revenues $14 Million MOUNTAIN LAKES REGION
- 19. NEW RIVER/GREENBRIER VALLEY REGION Direct Spending $586 Million Travel-Generated Employment 6,700 Jobs Travel-Generated Tax Revenues $50 Million
- 20. POTOMAC HIGHLANDS REGION Direct Spending $274 Million Travel-Generated Employment 3,900 Jobs Travel-Generated Tax Revenues $22 Million
- 21. EASTERN PANHANDLE REGION Direct Spending $942 Million Travel-Generated Employment 8,900 Jobs Travel-Generated Tax Revenues $194 Million
- 22. MOUNTAINEER COUNTRY REGION Direct Spending $418 Million Travel-Generated Employment 5,300 Jobs Travel-Generated Tax Revenues $35 Million
- 23. HATFIELD-MCCOY MOUNTAINS REGION Direct Spending $148 Million Travel-Generated Employment 1,200 Jobs Travel-Generated Tax Revenues $11 Million
- 24. WHAT DOES IT MEAN? Putting the data to work for us
- 25. GDP INFORMATION West Virginia Travel Industry GDP 2% of Total State GDP By Comparison: U.S. Travel Industry share of GDP was 2.7%
- 26. BIG THREE NUMBERS Tax Revenues $527 Million Direct Spending $4.1 Billion Employment 44,900 Jobs
Editor's Notes
- KARA: Good morning. I’m Kara Moore, Deputy Commissioner of Tourism. I see a lot of familiar faces and a lot of new faces. I look forward to meeting all of you over these next couple days. I joined the Tourism Office in January with the new administration, and it’s been a big year. I’m excited to have the opportunity this morning to deliver some information I know you’ve been anticipating for a while, our latest Dean Runyon Travel Impacts data. Joining me this morning are Emily Amos, our Director of Public Relations, and Joe Black, Director of Research. We’re going to run through the toplines of this data pretty quickly, but the full West Virginia Travel Impacts study will be available on our website later this week.
- We are open to more visual ways to display this. Could be more than one slide.
- We are open to more visual ways to display this. Could be more than one slide.
- KARA
- This represents a 3% increase over 2015. When you adjust for changes in prices (real dollars), that increase backs off to 2.3% from 2015 to 2016 While this is still measuring national growth, the growth has slowed – 2015 measured a 4.7% increase over 2014 in real dollars.
- This about the same as last year. If you look at the graph you can see that travel-generated employment recovered from the 2008-09 recession by 2013, but since then it’s been flat. Nationally, leisure and hospitality employment grew a little due to food services employment. But transportation and other industries’ employment declined over the same period, mostly due to decreased employment in the airline and related transportation industries.
- Now we get to the part you’re probably most interested in. Emily is going to walk you through the toplines of West Virginia’s Direct Impacts for 2016.
- JOE
- KARA – So what does it mean. The Commissioner will get into this in more detail in her strategic plan, but a couple points to note: We took our biggest losses in gaming and gas Gas is in line with national trends. Gaming isn’t dead. We’re now competing with other states. There’s room for improvement. This is where we see competition from other states. Remove those and there’s still a net loss – but we are well positioned for growth Our overall takeaway is that this is an industry with a big economic footprint in the state.
- Export-orientated industries are those industries that primarily market their products and services to other regions, states, or nations. Mining, manufacturing, and chemicals are the best examples of export-orientated industries. The travel industry is also an export-orientated industry because goods and services are sold to visitors, rather than residents. The travel industry injects money into the local economy, as do exports of other industries.
- So to review: We’re looking at X, Y, and Z. These are big numbers. We’re proud of our state’s travel and tourism industry, and we’re excited for what’s to come. So this shows where we overall as an industry. Now we’re going to switch gears a bit look at some in-house research that we use on a daily basis. Here with us today are Pat Strader and Justin Ferrell from Digital Relativity. The Dean Runyon data is delayed a year, but the numbers they’re going to share with you are from this year, and they show a lot of promise for growth. Let’s welcome Pat and Justin.