Vermont is a state in the northeastern region of the United States. It is famous for its natural beauty, charming small towns, and outdoor recreational activities.
Vermont attracts millions of tourists every year, and tourism is a significant contributor to the state’s economy. In this article, we will explore how much money Vermont makes from tourism.
Overview of Vermont’s Tourism Industry
Tourism is a vital industry in Vermont, generating revenue for businesses and creating jobs for residents. According to the Vermont Department of Tourism and Marketing, tourism contributes more than $2.8 billion to the state’s economy each year. The industry employs over 32,000 people across the state.
Visitor Spending
A significant factor in determining how much money Vermont makes from tourism is visitor spending. Visitor spending includes all money spent by tourists on lodging, food and drink, transportation, entertainment, and shopping.
According to a report by the Vermont Department of Tourism and Marketing, visitors spent $2.91 billion in Vermont in 2019. This spending generated $394 million in tax revenue for the state.
Impact on Local Businesses
Tourism has a positive impact on local businesses in Vermont. Many businesses rely heavily on tourist dollars to stay afloat. Popular tourist destinations like ski resorts, bed and breakfasts, restaurants, and souvenir shops benefit greatly from visitor spending.
According to the same report by the Vermont Department of Tourism and Marketing, tourism supports over 18% of all jobs in Vermont’s leisure and hospitality sector. This sector includes businesses such as hotels/motels/B&Bs (8%), restaurants/food service (5%), recreation/amusement (4%), retail stores (1%), arts/culture/entertainment (1%) among others.
Tourism Promotion Budget
The State of Vermont invests heavily in promoting tourism through various marketing campaigns, initiatives, and events. The Vermont Department of Tourism and Marketing has a dedicated budget for promoting tourism in the state.
According to the Vermont Agency of Commerce and Community Development, the tourism promotion budget for fiscal year 2021 is $4.3 million. This budget is used to fund various marketing campaigns, events, and initiatives aimed at attracting visitors to Vermont.
Conclusion
Tourism is a significant contributor to Vermont’s economy, generating billions in revenue and supporting thousands of jobs across the state. Visitor spending, impact on local businesses, and tourism promotion budgets all play a role in determining how much money Vermont makes from tourism. As such it’s important that the state continues to invest in promoting its natural beauty and recreational activities so as to attract more visitors each year.