Ever since 2014, tourism sector of Virginia witnessed $2.2 billion growth

Published on : Tuesday, September 12, 2017

Virginia Capital TrailEver since the year 2014, the tourism revenue of Virginia has increased by $2.2 billion with a compound growth rate of 3.3 percent year-on-year. For the commonwealth, tourism is generally considered as an instant revenue generator. The sector signifies approximately $23.7 billion revenue last year which is a 10.2 percent increase from 2013, the time when the sector churned out roughly $21.5 billion in revenue.

In today’s context, visitor spending in Virginia generates over 230,000 job opportunities, representing a 7.6 percent growth. In terms of in state and local taxes, Virginia’s tourism sector provides over $1.7 billion, with a compound growth rate of 5.6 percent year-on-year. In 2016, over 45 million visitors visited Virginia from all over United States. The figures are a record high for domestic travel to the commonwealth.

To quote Todd Haymore, Secretary of Commerce and Trade, “as the fifth largest private employer in Virginia, the travel industry is an important sector of the Virginia economy, contributing to the quality of life for our residents and making Virginia the best place to live, work and raise a family.”

Over $3.3 million in matching tourism grants have been granted all through the commonwealth, assisting localities to control marketing dollars and exploit their ability to struggle in an excessively inundated and competitive market. In the last three years, almost every region in Virginia has shown descent economic growth year-on-year.


Leave a Reply

Your email address will not be published. Required fields are marked *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

arrow2Follow TTW
facebook-logo  twitter-logo  LinkedIn_logo  stumbleupon-logo   rss_logo 
ttw_blogger_logo  ttw_blogger_logo  ttw_blogger_logo


  • 02 WTM Latin America 2018
  • 03 IMEX 2018
  • 03 wtm-africa18
  • 05 itb-china 2018
  • 05 KITF 2018
  • 06 jharkhandtravelmart 2018
  • 07 Digital-Travel-2018
  • 08 ShanghaiWTF 18
  • 09 The hotel shows audiarabia 18
  • 10 hotelfair 2018
  • 11 Digital Travel 2018
  • 11 Hotelex-Shanghai 18
  • 13 aitf 2018
  • 30 PATA


Get our toolbar!
Review www.travelandtourworld.com on alexa.com