Orlando Tourism Impact Increasing

ORLANDO (Orlando Business Journal) – New research on the economic impact of tourism released Nov. 14 by the Orlando/Orange County Convention & Visitors Bureau shows that Orlando had 47.7 million visitors in 2004 who spent $28.2 billion, a 13 percent increase over the previous year's $24.9 billion. The research, which covers the 2004 calendar year, was compiled and reported by Waltham, Mass.-based Global Insight Inc. While 95 percent of all 2004 visitors were domestic, they only spent 84 percent of the total – $23.5 billion. The other 5 percent of international visitors, who stay longer and spend more lavishly, spent 16 percent, or $4.7 billion, of the total. Tourism also accounted for nearly 220,000 jobs, a number that accounts for 24.2 percent of the three-county region's total employment. Another 152,000 jobs were indirectly related to tourism. The bureau notes that tourism also lowers taxes. A study by Fishkind & Associates indicates tourism generated $84.2 million in surplus revenue for Orange County and the city of Orlando in 2004. A fiscal surplus represents the degree to which tourism pays for its fair share of government expenses and subsidizes the community, keeping tax rates lower.