Chicago is one of the most popular tourist destinations in the United States. With its iconic skyline, world-class museums and art galleries, and vibrant food and music scene, it’s easy to see why so many people flock to the Windy City every year.
But just how much money does tourism bring to Chicago? Let’s take a closer look.
The Impact of Tourism on Chicago’s Economy
According to a report by Choose Chicago, the city’s official tourism organization, tourism is a major driver of the local economy. In 2018 alone, visitors to Chicago spent a record-breaking $16 billion on everything from hotels and restaurants to attractions and entertainment.
Where Does the Money Come From?
A large portion of tourism spending in Chicago comes from domestic travelers – that is, people who live within the United States. In fact, domestic visitors accounted for over 85% of all tourism spending in 2018. International visitors make up the remaining 15%.
What Do Tourists Spend Money On?
When tourists visit Chicago, they spend money on a wide variety of things. Some of the biggest categories include:
- Accommodations: Visitors spent over $3 billion on hotels and other lodging in 2018.
- Food and Drink: Restaurants and bars saw nearly $4 billion in tourist spending.
- Attractions: Museums, parks, tours, and other attractions accounted for over $2 billion in spending.
- Retail: Shopping is also a popular activity among tourists, with over $1.5 billion spent on retail purchases.
The Benefits of Tourism for Chicago
Tourism isn’t just good for local businesses – it also benefits the city as a whole. Here are just a few of the ways that tourism contributes to Chicago’s economy:
- Job Creation: The tourism industry is a major employer in Chicago, supporting over 150,000 jobs in 2018.
- Tax Revenue: Tourists generate significant tax revenue for the city, including hotel taxes, sales taxes, and other fees.
- Cultural Exchange: Visitors from around the world bring new perspectives and ideas to Chicago, contributing to the city’s vibrant cultural scene.
Conclusion
In conclusion, tourism is a vital part of Chicago’s economy. From hotels and restaurants to museums and attractions, visitors spend billions of dollars every year in the Windy City. This spending creates jobs, generates tax revenue, and supports local businesses – all while showcasing all that Chicago has to offer to travelers from around the globe.