Colorado is one of the most popular tourist destinations in the United States. From the majestic Rocky Mountains to the vibrant city life of Denver, Colorado offers a diverse range of experiences for travelers.
But with so many visitors coming in and out of the state each year, one question comes to mind – how much money does Colorado get from tourism? Let’s take a closer look.
The Importance of Tourism to Colorado
Tourism is a vital component of Colorado’s economy. In 2019, Colorado welcomed over 86 million visitors, generating $22.3 billion in revenue for the state. This revenue helps support local businesses and communities, as well as fund important government services.
How Much Money Does Colorado Get from Tourism?
According to a report by the Colorado Tourism Office, direct travel spending in Colorado totaled $10.8 billion in 2019. This includes spending on lodging, food and beverage, transportation, and recreation activities by both domestic and international travelers.
In addition to direct spending, tourism also generates indirect and induced economic impact through industries such as retail trade, construction, and real estate. The total economic impact of tourism in Colorado in 2019 was $31.4 billion.
Breakdown of Spending
- Lodging: Visitors spent $3.6 billion on lodging accommodations such as hotels, motels, and vacation rentals.
- Food & Beverage: Dining out accounted for $2.8 billion in visitor spending.
- Recreation: Activities such as skiing, hiking, and sightseeing generated $1.8 billion in spending.
- Retail & Transportation: Visitors also spent money on shopping ($1.1 billion) and transportation ($1 billion).
The Future of Tourism in Colorado
While tourism has been a major contributor to Colorado’s economy, the COVID-19 pandemic has had a significant impact on the industry. In 2020, travel spending in Colorado was down 30% from the previous year.
However, with vaccines becoming more widely available and restrictions easing up, there is hope for a rebound in tourism. The Colorado Tourism Office is launching new marketing campaigns to attract visitors back to the state and support local businesses.
Conclusion
Tourism plays a crucial role in Colorado’s economy, generating billions of dollars in revenue each year. While the pandemic has caused a temporary setback, the future looks promising for this important industry. Whether you’re visiting for the first time or returning for another adventure, your tourism dollars help support the state’s economy and keep Colorado thriving.